FIIs invest net Rs 8,000 crore in Indian stocks in November

Written By Unknown on Minggu, 01 Desember 2013 | 17.35

PTI | Dec 1, 2013, 10.48AM IST
MUMBAI: Continuing their buying spree for the third straight month, foreign investors pumped in more than Rs 8,000 crore ($1.3 billion) in Indian equities in November.

Overseas investment in the stock market has reached Rs 97,050 crore ($17.5 billion) so far in 2013, according to data from the Sebi, the market regulator.

Foreign institutional investors (FIIs) were gross buyers of equities worth Rs 55,806 crore and sellers of Rs 47,690 crore of shares till November 29, a net inflow of Rs 8,116 crore.

FIIs had invested a net amount of over Rs 15,700 crore in October and more than Rs 13,000 crore in September.

However, FIIs pulled out Rs 5,983 crore from debt securities last month. This takes the net outflow from the debt market to Rs 56,138 crore since the beginning of 2013.

FII inflows into stocks have been buoyant since September on the back of continued global liquidity.

Finance minister P Chidambaram had said in November the current account deficit is under control, the fiscal deficit target will be met, export growth is expected to continue and a bumper harvest is likely after a good monsoon.

Industrial production and trade data released last month gave an impetus to foreign investors.

Industrial output rose 2% in September from a dismal 0.43% in August. India's exports rose 13.47% to $27.27 billion in October while imports dipped 14.5%, helping to narrow the trade deficit.

The benchmark 30-stock S&P BSE sensex closed at a record 21,239.36 on November 3. Since the end of October, the index has declined about 373 points, or 1.76%, to settle at 20,791.93 points on Friday.

As of November 29, the number of registered FIIs in India stood at 1,744 and the number of sub-accounts at 6,410.


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