FII inflows cross $7 bn

Foreign institutional investors' (FIIs) net investments in equities crossed $7 billion in calendar 2006 on Monday. FII net investment has thus far been $7.08 billion (Rs 32,310 crore), marginally lower than $7.97 billion (Rs 34,773 crore) in the corresponding period of last calendar year.

FIIs had made $10.7 billion worth of investment (Rs 47,181 crore) in calendar 2005.

The investment figures have been culled from the website of the Securities and Exchange Board of India (Sebi). With this, for the fourth consecutive years, FIIs net investment in Indian equities have crossed $7 billion.

Since December 1993, when the overseas investors were allowed exposure to Indian equities, the aggregated FII investment stood at $48 billion.

As many as 151 new FIIs have opened their offices in India during first 10 months. In the corresponding period last year, 166 new FIIs entered India. The total number of FIIs that have set shops in India are 974 as on November 7.

According to the data, FIIs have invested half of its $7 billion investments in the last three months, between August and October.

FIIs have invested $ 3.1 billion (Rs 3,223 crore) during this period.

The biggest funds flow in the current calendar year was seen last month when FIIs poured in $1.74 billion (Rs 8,014 crore). They bought shares worth $1 billion (Rs 4,643 crore) in August and $1.17 billion (Rs 5,425 crore) in September. During the four trading days of the current month, the FIIs inflows have been to the tune of $321 million (Rs 1,482 crore).

Of the 65 trading days in the last three months, FIIs were net buyers for 52 trading days. Of the 52 trading days of inflows, FII buying crossed $100 million in 18 trading days.

Earlier in March the FIIs had bought $1.51 billion (Rs 6,689 crore) worth of shares from the Indian markets. Their net inflows in February stood at $1693 million (Rs 7,588 crore) and in January $805 million (Rs 3,678 crore).