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FIIs cheer UPA victory in LS polls; put in Rs15k cr

FIIs cheer UPA victory in LS polls; put in Rs15k cr
PTI
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First Published: Sun, Jun 21 2009. 03 34 PM IST
Updated: Sun, Jun 21 2009. 03 34 PM IST
New Delhi: Foreign institutional investors (Fiis) have poured in a whopping Rs15,127 crore in the Indian stock market in a single month, since the Congress-led UPA’s victory in 15th general election.
Significantly, the inflow of capital by foreign investors during 18 May –19 June period accounts over 70% of their total investment in the country so far this year.
According to an analysis of the gross purchase and sale of domestic equities by the FIIs since the decisive mandate in favour of the United Progressive Alliance in the general elections, they have made net investments of Rs15,127 crore.
Overseas investors have made a gross purchase of shares worth Rs93,718 crore, while they sold equities valued at Rs78,644 crore, resulting in a net inflow of Rs15,127 crore, as per the data available with the market regulator Securities and Exchange Board of India (Sebi).
Interestingly, FIIs have been net investors of Rs25,754 crore (over $5 billion) in the Indian stock markets so far in 2009, the data shows.
The decisive win by the ruling government in the general elections gave a boost to the market and the Bombay Stock Exchange’s 30-share benchmark Sensex has gained nearly 20% since the victory.
Days after the announcement of UPA’s victory, the stock markets created history and Sensex has witnessed its biggest ever gain of over 2,100 points in just one-minute trade as investors enthused by a decisive verdict.
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First Published: Sun, Jun 21 2009. 03 34 PM IST
More Topics: FIIs | UPA | Congress | Investments | Markets |