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Journalism of Courage
Betting big on Indian equities,foreign institutional investors (FIIs) have put in a whopping over Rs 71,900 crore so far this year in the country’s bourses,the highest ever investment made in rupee terms in a single year.
So far in 2009,overseas investors have invested a net Rs 71,979 crore (about 14.99 billion dollars) in the local stock markets,the data available with market regulator Securities and Exchange Board of India (SEBI) reveals.
Till now,the year 2007 attracted record investment from foreign fund houses. FIIs inflows in stock markets in 2007 stood Rs 71,486 crore.
“The trend is not surprising that Indian equity markets attracted record investment this time. A number of factors including weakening of dollar and a higher rate of return from the emerging markets have attracted the investment from FIIs,” Delhi-based of Unicon Financial CEO Gajendra Nagpal said.
According to marketmen,inflows from foreign houses in the Indian stock markets will continue in coming days.
“With the government’s talk on disinvestment of stake in state-run companies and the announcement of big infrastructure programmes,we see FIIs would stay long in the Indian market,” a leading market analyst said.
Interestingly,the stock market benchmak Sensex has risen over 76 per cent so far this year,emerging as one of the best performers among its peers.
