Amid hopes of a stable and reform- oriented government after the general elections, foreign investors pumped in Rs 9,600 crore in Indian stocks in April, the eighth consecutive month of inflows.
Foreign institutional investors (FIIs) bought shares worth Rs 74,985 crore and sold stocks to the tune of Rs 65,383 crore, resulting in a net inflow of Rs 9,602 crore (USD 1.6 billion), according to data from the Securities and Exchange Board of India.
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This was the eighth consecutive month of net inflows by foreign investors after they pulled out Rs 5,923 crore from the stock market in August.
FIIs withdrew Rs 9,185 crore (USD 1.51 billion) from the debt market last month.
According to market analysts, FIIs are bullish on India and expect a stable government to be formed after the Lok Sabha elections.
The strong inflow in recent months has taken the net investment by FIIs to Rs 32,377 crore (USD 5.3 billion) in Indian equities so far this year.
They invested Rs 20,077 crore in Indian stocks in March, compared with Rs 1,404 crore in February and Rs 714 crore in January.
There are currently over 1,700 registered FIIs in the country, along with about 6,400 sub-accounts.