FIIs pump in $4.8 bn in markets since US Fed rate cut

FIIs pump in $4.8 bn in markets since US Fed rate cut

Mumbai: Foreign Institutional Investors (FIIs) have pumped in more than $4.835 billion in the Indian equity market since the US Federal Reserve’s rate cut on 18 September that triggered a massive bull run in the Indian equity markets.

FIIs pumped in $671 million or Rs2,662 crore in the market today as well, as per the provisional figures released by the National Stock Exchange of India (NSE).

The market touched an all-time high of 17,953 points on 3 October backed by heavy FII inflow and later closed at 17,847 with a gain of 518 points.

Total inflow in the Indian markets amounted to $4,164 billion between 19 September, the day that also saw the Bombay Stock Exchange’s Sensex crossed 16,000 mark and 1 October as per the data released by market regulator Sebi.

The heavy inflow helped Sensex cross 17,000 mark in fastest ever time of just five trading sessions on 26 September and Nifty too crossed 5,000 mark the following day.

The last three trading sessions alone have seen close to $2 billion inflow with each the flow being of more than half a billion dollar.