FII kitty value surges 129% in 3 yrs

The booming stock market in the last three years has seen the value of foreign portfolio investments growing by about 129 per cent to $119 billion. A total of 992 FIIs from 39 countries have invested $52 billion in domestic shares.

"The total investment by registered FIIs in India is $52 billion at cost price and $119 billion at market price," Sebi Chairman M Damodaran revealed at the 32nd annual conference of IOSCO on Wednesday.

The benchmark indices, NSE-50 and BSE Sensex, have provided compounded annual returns of 29 per cent and 33 per cent, respectively, over the last three financial years.

Going by its market capitalisation of over $850 billion, the Indian securities market is the fifth largest in Asia-Pacific after Japan, Australia, Hong Kong and Korea.

"In fact, the market capitalisation of listed securities exceeds aggregate deposits with the banking system. According to Global Stock Markets Fact Book 2006, India ranked 17th in the world on market capitalisation at the end of December 2005," Finance Minister P Chidambaram told the delegates at the conference.

By the end of 2007-08, India will have a GDP of $1 trillion with savings and investment rates well in excess of 30 per cent.

"This means that giant financial flows will be intermediated in India. We are keen to reap the advantages of international flows of money and the best international practices concerning the financial sector," he added.

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A total of 992 FIIs from 39 countries have invested $52 billion in domestic shares at cost price

The market-cap of listed securities exceeds the deposits with banks

India ranked 17th in the world on market capitalisation at the end of December 2005