| FIIs pump in $11.4b in Indian equities |
NEW DELHI Overseas investment into Indian stock markets has crossed $11 billion so far this year, with more than $1 billion being pumped in this month alone.
Foreign institutional investors (FIIs) have infused a net amount of $1.02 billion in August so far, taking the total for this year to $11.4 billion in Indian equities, according to the Securities and Exchange Board of India (Sebi).
Market experts said foreign investors have factored in deficient monsoon, slowing economic growth and high interest rate regime, and are pinning hopes on the government’s fresh initiatives on reforms.
“With the government indicating a softer stance on the controversial General Anti-Avoidance Rules and retrospective taxation issues, many FIIs which had stayed away with the Indian equities for some time are once again coming back to India,” a stock broker said.
Destimoney Securities MD and CEO Sudip Bandhopadhyay said, “The huge FII inflows were not driven by the country’s fundamentals, its mainly because of the global factors.”
Agencies
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