New Delhi: Foreign institutional investors (FIIs) have invested Rs 13,000 crore in the Indian stock market during September 2013, after the announcement of new measures to boost the economic growth by Mr Raghuram Rajan, Governor, Reserve Bank of India (RBI). Moreover, the US Federal Reserve’s decision to leave its stimulus programme unchanged also encouraged foreign investors to park funds in the Indian equities.
Inflows in equities were about Rs 13,228 crore during September 2-27, 2013. There is just one trading session left for this month.
Renewed buying by FIIs was witnessed after Mr Rajan took over as the RBI chief and announced a slew of measures to attract dollar inflows, including enhanced limits for exporters to re-book the cancelled forward exchange contracts and a window for banks to swap the foreign currency deposits.
Besides, Federal Reserve’s decision to continue with its monthly US$ 85 billion bond-buying programme and wait for more signs of growth recovery have encouraged FIIs to invest in the Indian equity market.
Since the beginning of 2013, FIIs have infused Rs 73,398 crore in equities.
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