Foreign institutional investors (FII), who had turned away from the Indian equity market last year, seem to be returning back as since the beginning of the new financial year 2009-10 they have already put in over Rs 1,000 crore into the domestic stocks.
FIIs seem to have embarked on fresh buying mode and made net investments of Rs 1,056.1 crore since April 1, the latest data available with the market regulator Securities and Exchange Board of India (Sebi) website shows.
Significantly, in last fiscal, FIIs had pulled out close to Rs 50,000 crore at the domestic stock market, almost equaling the inflow in the previous financial year.
According to Sebi data, FIIs' net outflows have been Rs 47,706.2 crore till March 30 in the financial year 2008-09 as against huge inflows of Rs 53,000 crore in FY08.
Further, the Bombay Stock Exchange's benchmark index, the Sensex has witnessed a rally in the past two weeks although the trading sessions have been just five due to holidays in between.
Since the beginning of the new financial year, the Sensex has gained over 900 points or over 9 per cent. On Thursday, the last trading day of the week, the Sensex closed at 10,803.86 points.
