Of FII inflows

Fund flows from FIIs have crossed the record Rs 97,900-crore mark this year and is all set to breach the magical Rs 1,00,000 crore mark — for the first time since they were allowed invest here. An analysis of the data available with market regulator Sebi shows foreign institutional investors (FIIs) have made a net purchasing of stocks worth Rs 97,955.50 crore ($21.42 billion) so far in this year. And going by the pace in which the inflows are coming in, market analysts believe it will breach the Rs 1,00,000-crore mark in this week. The net purchase of Rs 97,955.50 crore is the highest ever investment by the overseas firms in any year in India. The current inflows have surpassed the record level (in dollar terms) of $17.6 billion in domestic equities during 2007. Last year, FIIs were the net purchaser of shares worth Rs 83,423 core, the highest ever in rupee terms. During the same year, the stock market benchmark sensex had recorded a gain of over 80%. Moreover, the government's plans to mop up money by selling its stake in PSUs, including the mega IPO of Coal India, will give more investment opportunities to investors. The sharp rise in FII flows to Indian stocks has pushed up the market. The sensex climbed over 10% in September, a month when the index re-gained the magical 20,000 level after a gap of 32-months.

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