Mumbai: Betting high on Indian market, Foreign Institutional Investors (FII) have made a net investment of over Rs 6,700 crore in just four trading session of April this fiscal.

Till April 8, FIIs were gross buyer of shares worth Rs 20,519.40 crore, while they sold equities worth Rs 13,769.90 crore, resulting in a net investment of Rs 6,749.60 crore or USD 1.51 billion, as per the data available with the capital markets regulator Sebi.

According to analysts, FIIs have been pumping funds into emerging markets like India because of their strong growth potential. The foreign fund houses are likely to keep investing in the Indian bourses in the coming days, feel the analysts.

"The FII inflows in April have been strong. This may be because of expectation of good corporate results," SMC Capitals Equity Head Jagannathan Thunuguntla said.

Besides, foreign fund houses were negative on debt market and pulled out Rs 2,940.80 crore or USD 665.07 million. This takes the overall net investments by FIIs into stocks and bonds to a total of Rs 3,808.80 crore or about USD 850.63 million.

In January 2011, overseas investors had pulled out Rs 4,813.2 crore from stock market and outflow continued in February too with Rs 4,585.5 crore taking out from equities but the scenario changed in March, when they were net investors of equities worth Rs 6,749.60 crore.

This has taken the gross purchases of equities in the country by FIIs so far this year to over Rs 1.88 lakh crore.

 

(Agencies)