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Monday, August 31, 2009

FIIs continue buying equities

Inflow of Rs 1092.70 crore on 28 August 2009

Foreign institutional investors (FIIs) continue to make a beeline for Indian stocks. As per the data posted on the Securities & Exchange Board of India (Sebi) website, foreign funds mopped up equities worth a net Rs 1092.70 crore on Friday, 28 August 2009. The inflow was, however, lower than Rs 1342.80 crore on Thursday, 27 August 2009.

The net FII inflow of Rs 1092.70 crore on 28 August 2009 was a result of gross purchases Rs 2574.30 crore and gross sales Rs 1481.50 crore. The BSE Sensex had jumped 141.27 points or 0.9% to 15922.34 that day, its highest closing since 3 August 2009.

A solid surge in global risk appetite triggered by hopes that the global economy is recovering from a financial crisis, has boosted inflow of foreign funds in India. The cumulative FII inflow totaled Rs 40284 crore in calendar 2009 (till 28 August 2009). FIIs had pulled out Rs 29311.50 crore in the corresponding period last year.

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