FIIs pump in more, Rs 100,000 crore set to be touched this year | business | Hindustan Times
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FIIs pump in more, Rs 100,000 crore set to be touched this year

Rs 100,000 crore. The big number loomed over Indian bourses on Monday as data showed foreign institutional investors (FIIs) surpassing their record in pumping in portfolio investments into India.

business Updated: Oct 11, 2010 21:37 IST
HT Correspondent

Rs 100,000 crore. The big number loomed over Indian bourses on Monday as data showed foreign institutional investors (FIIs) surpassing their record in pumping in portfolio investments into India. The mighty milestone figure for the calendar year seems set to be achieved this month.

FIIs put in R807.5 crore more on Monday, taking their 2010 total to R98,763 crore. With their apparent interest in getting chunks of the initial public offer (IPO) of shares by state-controlled Coal India Ltd, the interest is expected to stay strong.

Inflows totalled R83,396 crore in 2009, and that record is substantially broken.

“I see the inflows to remain strong in the near term unless and until there is some big structural change,” said Dilip Kadambi, managing director, RBS Investment Banking. “There is a reasonable appetite for the Coal India IPO and other disinvestment plans.”

Experts said FIIs mainly play into indices and Coal India is likely to enter the index once it gets listed, thus attracting special institutional investor interest.

FIIs have put in R39,381 crore since September 1, powering up the BSE’s benchmark Sensex by 13 per cent over the period. The index inched up 0.4 per cent and closed at 20,339 on Monday, which is only a little more than 500 points from its all-time closing high of 20,873.

Sensex lagged China’s Shanghai Composite index that rose 2.5 per cent while the Hang Seng index at HongKong rose 1.2 per cent. European markets were trading in the green in early trade.

The biggest gainers at the Sensex were the automobile, metals and oil and gas indices as they rose by 1.9 per cent, 1.6 and 1.3 per cent respectively. Among the Sensex companies the biggest gainers were Tata Motors (4.1per cent) and Sterlite (3.1 per cent). Reliance Industries was also a key gainer, rising 2 per cent during the day.