FII investment slips below USD 8 bn in 2006

FII in the Indian equity market slipped to below USD 8 billion in 2006 - much below the 2005 level.

Overall foreign institutional investment (FII) in the Indian equity market slipped to below USD 8 billion in 2006 - much below 2005 level - due to selling by FIIs to the tune of Rs 10.50 billion on Thursday.

FIIs invested USD 10.701 billion in the Indian equity market in 2005.

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FII's were net sellers for the third consecutive session and sold equity worth Rs 10.49 bn on December 28 bringing down the overall investment in 2006 to USD 7.993 billion, as per the data released by SEBI.

However, the total number of FIIs operating in India crossed the 1,000 mark for the first time and has gone up to 10.35 as on December 29, according to the SEBI data.