FIIs pump in Rs 1,130 cr

MUMBAI, NOV 11: Investments of foreign institutional investors FIIs in the capital market surged up in the first ten days of November at...

MUMBAI, NOV 11: Investments of foreign institutional investors FIIs in the capital market surged up in the first ten days of November at Rs 1,130 crore after remaining net sellers to the tune of Rs 219 crore in the previous month. However, the mutual funds MFs were net sellers at Rs 70 crore in the equity market, while continuing their positive trend in the debt market by pumping in Rs 303 crore in the same period.

During the year, the FIIs made total investments at Rs 7,371 crore, while the MFs made a net investment of Rs 2,912 crore. The impact of FIIs investment was also felt on the stock prices with the benchmark Sensex gaining 230 points in the past ten days.

However, the benchmark Sensex failed to take off and closed only a shade higher in a fight between bears and bulls for supremacy on the Bombay Stock Exchange BSE last week that witnessed a onslaught at the fag end. Sensex managed to end the week with a minor gain of about 6 points as the fall in the US markets following the uncertainty over the election of the US President kept Indian investors on tenterhooks.

With foreign institutional investors FIIs stepping up their purchases in the current week, bulls attempted to enlarge positions in many key counters, aiding the Sensex to march upwards.

However, a plunge in the tech-dominated Nasdaq Composite Index with the US presidential election outcome hinging on a vote recount in Florida and reports that there won8217;t be an early resolution to presidential election provided the required opportunity to bears. The Nasdaq composite index, which fell by 215 points in two sessions on Wednesday and Thursday in response to developments in US Presidential election, dropped further by about 172 points on Friday, indicating that the downtrend was here to stay in the next settlement.