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FII inflow tops Rs 13,100 crore

Kishor Kadam & Ashok Divse in Mumbai | September 19, 2003 08:10 IST

Net purchases by foreign Institutional Investors in the equity market topped Rs 13,100 crore (Rs 131 billion) on Wednesday.

This is the highest FII inflow into the stock markets in any calendar year, though more than three months remain till the end of the year. In the whole of calendar year 2001, FII net buying on the bourses totalled Rs 12,800 crore (Rs 128 billion).

During the current year, till date, FIIs' gross purchases stood at Rs 52,221 crore (Rs 522.21 billion) while they sold shares worth Rs 39,121 crore (Rs 391.21 billion). Thus, net FIIs purchases were to the tune of Rs 13,100 crore.

FII flows into the equity markets continue unabated despite the sharp retreat in stock prices in the last six trading days.

Although the Bombay Stock Exchange Sensex has lost a massive 300 points in the last six trading days, FIIs poured in Rs 525 crore (Rs 5.25 billion) in these days.

In fact, FII net purchases topped Rs 2,550 crore (Rs 25.50 billion) in the first 14 trading days of the current month.

FIIs have become the single most dominant factor in the Indian equity markets with their share in the total turnover on the BSE and the National Stock Exchange going up from a modest 7.56 per cent in calendar year 2001 to 9.62 per cent in calendar year 2002.

In the current year till September 17, the FII share in the total turnover increased further to 11.60 per cent.

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