Foreign investors seem to be taking India seriously. Inflows have picked up gradually after the debacle in May when the market crashed like nine pins. Foreign institutional investors (FIIs) have put in $103.80 million (Rs 481 crore) in Indian stocks on Friday alone.With this, the total FII investment in the month of September has touched $ 352 million (around Rs 1,632 crore), according to the Securities and Exchange Board (Sebi).‘‘A major reason for the recent surge in shares is the sustained buying by FIIs,’’ said BSE dealer Pawan Dharnidharka. FIIs put in Rs 148.50 crore on Thursday (September 16), after putting in Rs 104.50 crore on Wednesday (September 15) and Rs 183.60 crore on Tuesday (September 14).On August 20 this year, FIIs had put in $396.4 million (around Rs 1,824 crore), making it one of the largest investment by FIIs in a day in recent times.‘‘FIIs are really pumping money into the country. Looks like, it will stay that way for a while,’’ says Nilesh Shah, CEO, Prudential ICICI Mutual Fund.If market sources are to be believed, FIIs had put money in blue-chip mid-cap stocks last week.FIIs pumped in a net Rs 2,892.30 crore in August. But most of the inflow of FIIs in August was on account of their subscription to the TCS IPO. FIIs were allotted 2.42 crore shares of TCS, worth Rs 2,057 crore.Market players expect the foreign fund buying to continue on the reckoning that the market would continue to remain firm on the back of sound economic fundamentals and strong demand in the economy.From a recent low of 5,022.29 touched on August 23, the Sensex has gained 525 points. The index has shot up by over 1,000 points (22 per cent) in the last four months.
