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Net FII inflows top $7 billion
BS Research Bureau in Mumbai | December 18, 2003 10:00 IST
Net investment by foreign institutional investors in the domestic market this year now stands at $7.1 billion. This is more than double the previous best of $3.05 billion in 1996.
Of the $7.1 billion (Rs 32,924 crore) in net foreign institutional investment till December 16, 2003. Investment in equity stands at around $6.05 billion, while the rest is in debt.
In the past one month, FIIs poured nearly $1 billion into the Indian capital market. On November 14, their investment touched $6 billion.
FII investment in December (till December 17) touched $914 million (Rs 4,152 crore), up from $788 million in November. October saw the highest monthly net flow into the market at $1.47 billion (Rs 6,862.60 crore).
Also, there has been an exponential rise in inflow between September and October. While a net inflow of $0.96 billion was recorded in September, the figure shot up to $1.47 billion in October. In the first nine trading days of November, FIIs pumped in $0.57 billion.Meanwhile, the Bombay Stock Exchange Sensex closed down 0.35 per cent at 5,418.23 points on Wednesday, after rising about 6 per cent in the past six sessions. It struck a 44-month closing high on Tuesday. The index is still up 60.4 per cent in 2003 and is Asia's second best performer.