FII net inflows in Indian markets hit Rs 50b

NEW DELHI, May 11 (PTI): Foreign investors have pumped in nearly Rs 50 billion in the Indian market so far this month on hopes of a stable and reforms-oriented government after the general elections results next week.
Foreign Institutional Investors (FIIs) pumped in Rs 21.24 billion in the stock market, and Rs 28.71 billion in debt securities, taking the total to Rs 49.95 billion ($830 million) from May 2-9, as per data from the Securities and Exchange Board of India (Sebi).
According to market analysts, FIIs are bullish on India and expect a stable government to be formed after the Lok Sabha elections.
The 9-phase voting process, which began on April 7, will conclude on May 12 and the counting of votes will take place on May 16.
FIIs, the main drivers of the equity market, have helped push up the benchmark BSE Sensex by 2.5 per cent so far in May and had touched 23,000 mark on last Friday before closing at 22,994.23 points.
The strong inflow in the recent months has taken the net investment by FIIs to Rs 339.23 billion in Indian equities so far this year and Rs 292.17 billion in the debt market during the period taking the total to Rs 631.40 billion.
They invested Rs 96.02 billion in Indian stocks in April, compared with Rs 200.77 billion in March, Rs 14.04 billion in February and Rs 7.14 billion in January.