Overseas funds pump in over $588 million in volatile trading week
September 11th, 2011 - 6:13 pm ICT by IANS
Mumbai, Sep 11 (IANS) Foreign institutional investors (FIIs) pumped in over $588 million at Indian equities markets in the week ended Friday as volatility saw benchmark indices close on a flat note.
According to data available with the Securities and Exchange Board of India (SEBI), FIIs bought stocks worth $588.73 million during the week ended Sep 9, taking the total net inflow during the month to $661.15 million.
A good start to the month, when compared to the $2.39 billion they sold in August.
During the week, benchmark indices only nudged up as traders chose to sell amid uncertain global cues, wiping out the gains notched up during the early part of the week.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange ended the week at 16,866.97 points, up 0.27 percent or 45.51 points from the previous week’s close at 16,821.46 points.
FII inflows have been tardy to say the least in 2011. The net inflows till the last week of August from overseas institutional buyers had turned negative. Compare this to the record $28.83 billion overseas funds pumped into the Indian markets in 2010.
However, because of this week’s robust buying interest, the net inflows for 2011 as on Sep 9 now stand at a little over $705 million.
The coming week, will see the Reserve Bank of India meeting to take a call on interest rates. If it hikes rates again, it could stocks tumbling at least in the short-run.
FIIs, though, may still find India and other emerging markets a better investment destination given the economic turmoil in western countries.
- Overseas funds sell over $259 million in equities - Sep 18, 2011
- Overseas funds sell $22.39 million in equities - Sep 25, 2011
- Foreign funds investments in September at $6.97 mn - Oct 02, 2011
- Overseas funds sold $1.5 bn in August - Aug 21, 2011
- Foreign funds inflow slackens even as markets gain - Feb 20, 2011
- Overseas funds bought Indian stocks worth $282 mn during week - Jul 31, 2011
- Overseas funds turn bearish, pull out $2.48 bn in August - Aug 28, 2011
- Foreign funds pump in over $1.16 bn till Jan 20 - Jan 22, 2012
- Foreign funds sell over $260 mn in equities during week - Dec 18, 2011
- Bullish foreign investors pump in over $5.5 bn into Indian markets - Feb 26, 2012
- Overseas investors bullish, pump in over $1.78 bn - Jan 29, 2012
- Foreign funds outflow in equities markets tops $1 bn in 2011 - Feb 06, 2011
- Indian markets end flat in volatile trading (Weekly market review) - Sep 10, 2011
- Foreign fund inflows top $3 bn in six days - Oct 09, 2010
- Foreign funds propel Sensex to new 32-month high - Sep 14, 2010
Tags: bank of india, bombay stock exchange, cues, economic turmoil, emerging markets, exchange board, fii inflows, foreign institutional investors, indian markets, inflow, institutional buyers, investment destination, reserve bank of india, sebi, securities and exchange board of india, sensex, sensitive index, sep 11, volatility, western countries