The foreign institutional investors (FII) flow year-to-date touched a record high at Rs 18,519.90 crore. The overseas flow in the capital market during the month of November alone was a startling Rs 1,190.70 crore. They made a gross purchase of Rs 5,380.60 crore and gross sales of Rs 4,189.90 crore.
This is the third highest inflow by FIIs in the year 2010. Highest inflow was in September, which was Rs 29,195.80 crore and second highest in October, which was Rs 24,770.80 crore.
In an interview Mark Mobius of Templeton AMC had said that he expects USD 450 billion worth of investments in new issues in emerging markets like India.
However, Ashish Gupta, Director - Equity Research, Credit Suisse said India had been attracting a disproportionately high share compared to its index weight. “Compared to the pace at which it has come to India or the share that India has had total inflows into Asia, we expect moderation. But given the global liquidity environment, we are actually hopeful that foreign inflows into Asia in absolute terms will also be larger than last year. So, we expect 2011 inflows into Asia to be better than the inflows Asia saw in 2010. Although India’s share in that will come down, we are not expecting a major slowdown in the absolute level of flows.”
Showing posts with label FII. Show all posts
Showing posts with label FII. Show all posts
Wednesday, December 1, 2010
Tuesday, September 21, 2010
Sensex scales 20K peak after 32 months; FIIs fuel rally
Upbeat foreign investors Tuesday pushed the stock market benchmark Sensex above the 20,000 points-mark for the first time in 32 months, as they bet on companies that are driving the India growth story.
The barometer closed 95.45 points, or 0.48 percent, up at 20,001.55 - its best closing since January 15, 2008, when the index ended at 20,251.09 points.
Similarly, the 50-share National Stock Exchange benchmark Nifty breached the psychological 6,000 mark and ended at 6,009.05, up 28.6 points, or 0.48 percent.
Some brokers, however, feel that a short-term correction may be round the corner, but would nonetheless provide good investment opportunities.
Happy with the market milestone, Finance Minister Pranab Mukherjee told reporters in New Delhi: "We all know that the Sensex is always a little bit unpredictable. (But) I am happy that for the first time after January 2008, it has crossed 20,000."
Analysts said the rally in Indian market is propelled by strong inflows from overseas fund houses, which have made a net investment of over Rs 71,000 crore in local stocks so far in this year.
"Sensex gushing past 20,000 mark, stands testimony to the attractiveness of India as a preferred investment destination.
With Indian economy structurally well placed for an 8 to 9 percent GDP growth over a long period, domestic equities are in a structural bull run," Angel Broking CMD Dinesh Thakkar said.
Tuesday's close marked the third straight session of gains.
Significantly, the Sensex has completed its journey from 17,971 points on August 31 to 20,000 in just 15 trading days.
Tuesday's gain was fuelled by a smart gain in blue-chips like L&T, HDFC, HDFC Bank, TCS, Infosys and BHEL.
Infosys rose 0.9 percent, TCS 2.5 per cent and Wipro 2.7 percent. Equity analysts said IT stocks rose after IBM Corp announced a USD 1.7 billion takeover.
L&T zoomed 2 percent, Cipla 1.92 per cent and BHEL 1.73 percent. With a net gain of 2.93 percent, Tata Power was the best performer in the Sensex pack.
In the BSE-30 pack, 16 stocks ended with gain, while rest 14 closed in the red.
Even in the broader market, 2,123 stocks declined against 883 advances.
Reliance Industries Ltd, which holds the maximum weight in the Sensex, acted as a drag, closing 0.60 percent lower at Rs 1,033.5.
ITC plunged 2.58 percent and led the losers' pack. Other major losers include Jaiprakash Associates 1.52 percent, DLF 1.38 per cent and Hindalco 1.22 percent.
Asian stocks rose after US homebuilder Lennar Corp posted better-than-estimated profit, boosting optimism in the economic recovery worldwide.
US stocks advanced on Monday, sending the S&P 500 Index to a four-month high on Lennar Corp's profit forecasts and IBM Corp announcing a USD 1.7 billion takeover.
The barometer closed 95.45 points, or 0.48 percent, up at 20,001.55 - its best closing since January 15, 2008, when the index ended at 20,251.09 points.
Similarly, the 50-share National Stock Exchange benchmark Nifty breached the psychological 6,000 mark and ended at 6,009.05, up 28.6 points, or 0.48 percent.
Some brokers, however, feel that a short-term correction may be round the corner, but would nonetheless provide good investment opportunities.
Happy with the market milestone, Finance Minister Pranab Mukherjee told reporters in New Delhi: "We all know that the Sensex is always a little bit unpredictable. (But) I am happy that for the first time after January 2008, it has crossed 20,000."
Analysts said the rally in Indian market is propelled by strong inflows from overseas fund houses, which have made a net investment of over Rs 71,000 crore in local stocks so far in this year.
"Sensex gushing past 20,000 mark, stands testimony to the attractiveness of India as a preferred investment destination.
With Indian economy structurally well placed for an 8 to 9 percent GDP growth over a long period, domestic equities are in a structural bull run," Angel Broking CMD Dinesh Thakkar said.
Tuesday's close marked the third straight session of gains.
Significantly, the Sensex has completed its journey from 17,971 points on August 31 to 20,000 in just 15 trading days.
Tuesday's gain was fuelled by a smart gain in blue-chips like L&T, HDFC, HDFC Bank, TCS, Infosys and BHEL.
Infosys rose 0.9 percent, TCS 2.5 per cent and Wipro 2.7 percent. Equity analysts said IT stocks rose after IBM Corp announced a USD 1.7 billion takeover.
L&T zoomed 2 percent, Cipla 1.92 per cent and BHEL 1.73 percent. With a net gain of 2.93 percent, Tata Power was the best performer in the Sensex pack.
In the BSE-30 pack, 16 stocks ended with gain, while rest 14 closed in the red.
Even in the broader market, 2,123 stocks declined against 883 advances.
Reliance Industries Ltd, which holds the maximum weight in the Sensex, acted as a drag, closing 0.60 percent lower at Rs 1,033.5.
ITC plunged 2.58 percent and led the losers' pack. Other major losers include Jaiprakash Associates 1.52 percent, DLF 1.38 per cent and Hindalco 1.22 percent.
Asian stocks rose after US homebuilder Lennar Corp posted better-than-estimated profit, boosting optimism in the economic recovery worldwide.
US stocks advanced on Monday, sending the S&P 500 Index to a four-month high on Lennar Corp's profit forecasts and IBM Corp announcing a USD 1.7 billion takeover.
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