Foreign institutional investors (FII) today invested a whopping $1.1 billion into Indian stocks adding to their this year's buying tally of $14.75 billion.
According to provisional data on National Stock Exchange (NSE) data, FIIs made a net purchase of Rs 5,845.58 crore (gross buying of Rs 8,586 crore and gross selling of Rs 2,740.42 crore).
However, according to brokers such high net buying figure could be due to block deal in Cairn India shares.
According to NSE data, 152.6 million shares worth Rs 4,932 crore of Cairn India were sold by promoter Cairn UK Holding to a clutch of investors through bulk deals. Four FIIs, including Citigroup and HSBC, bought a total of 75.6 million shares of the company worth Rs 2,443 crore.
Before today's purchase, FIIs had bought shares worth Rs 13,415.6 crore ($2.47 billion) so far this month and Rs 76,426 crore ($14.75 billion) since the start of 2012, as per Sebi data.
