FII inflows cross $3 billion mark on Dalal Street
It's raining dollars in the Indian stock market with the overseas investment on the local bourses crossing three-billion dollars mark since the beginning of this year.
Foreign Institutional Investors have put in a net of 3.05 billion dollars (over Rs 13,500 crore) in the Indian stocks so far in 2007, while taking their total net investment in the country so far to over 52 billion dollars.
However, the net FII inflows in the first four months of 2007 is over a billion dollars, less than the figure invested in the same period of the previous year.
More than half of the net investment by FIIs this year came in the month of April alone after the overseas investors returned to the bourses with positive sentiments as Sensex regained its once-lost 14,000 level.
The bourses had witnessed a herd-like flight of FIIs after a sharp fall in February this year, but with the corporate earnings results meeting or beating expectations, the sentiments have improved considerably, said a broker.
According to the data available with the market regulator SEBI, FIIs purchased stocks worth close to Rs 46,400 crore and sold stocks worth about Rs 39,500 crore in April 2007, taking their net investment to about Rs 6,900 crore (about 1.56 billion dollars).
However, the net FII investment for January-April period is estimated to remain around three-billion dollar level, as against about 3.3 billion dollars in the same period of 2006, said another broker.
FIIs had purchased stocks worth a net of about eight billion dollars in entire 2006, as against a record high of 10.7 billion dollars in 2005.
Enter your email to get our daily newsletter in your inbox
- At a time when petrol and diesel prices are at an all-time high, and taxes have a bigger component in the retail price than the base price of the fuels, it is worth revisiting the debate on bringing petrol and diesel under the ambit of GST.
- The ECIR is reportedly based on an FIR filed by the Chennai police under Section 420 of the IPC on the basis of a complaint by the Chennai Financial Markets and Accountability (CFMA), an organisation that fights for investors’ rights.
- Shipments in the December quarter grew at a higher rate of 198% annually with 15.2 million units.
- The companies are also opting for large boxes for storage, with around 400,000-plus sq. ft being the average demand.
- The latest acquisition is Delaporte’s boldest move to spur growth after the company ceded its position as India’s third-largest software services provider to HCL Technologies Ltd.
- The Bengaluru-based online retailer has been weighing a US initial public offering and it’s now also looking at other options, the people said.
- While the base price of petrol is ₹33.26 per litre, it attracts ₹32.90 a litre central excise and ₹21.04 per litre local levies in Delhi.
- As per SBI’s official website, the properties that are included in the auctions are those of defaulters who failed to pay their dues.
- Here’s how you can calculate the EPF interest