 "FIIs invest Rs 3,000 crore in Indian stocks so far in November")
Foreign investors poured in almost Rs 3,000 crore in the Indian equity market so far this month amid renewed optimism about the economy and a delayed tapering of the US monetary stimulus.
Total foreign investment in the stock market reached Rs 91,892 crore ($16.67 billion) so far in 2013, according to data from the Securities and Exchange Board of India, the market regulator.
Foreign institutional investors (FIIs) were gross buyers of equities worth Rs 15,370 crore and sellers of Rs 12,412 crore of shares during November 1-8, a net inflow of Rs 2,958 crore (about $480 million).
They invested a net Rs 28,700 crore in stocks during the past two months (September-October).
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However, FIIs pulled out Rs 2,916 crore from debt securities so far this month. They have withdrawn a net Rs 53,070 crore from the debt market since the beginning of the year.
FII inflows into the stock markets have been buoyant since September 2013 on the back of continued global liquidity as the US Fed postponed the withdrawal of its monetary stimulus for now.
Earlier this month, Finance Minister P Chidambaram had said the current account deficit is under control and the fiscal deficit target will be met. He said export growth is expected to continue and a bumper harvest is likely after the good monsoon.
The benchmark S&P BSE Sensex has declined by about 498 points, or 2.35%, so far this month to settle at 20,666.15 points on Friday. The index closed at a record 21,239.36 on November 3.
As of November 8, the number of registered FIIs in the country stood at 1,745 and the total number of sub-accounts at 6,379.