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| FII outflow close to Rs 50,000 cr in FY09 |
| Press Trust of India / Mumbai Mar 31, 2009, 18:46 IST |
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Foreign institutional investors pulled out close to Rs 50,000 crore at the domestic stock market in 2008-09, almost equalling the inflow in the previous fiscal, but analysts forecast flows will resume later next fiscal.
FIIs' net outflows have been Rs 47,706.2 crore till March 30 in the financial year 2008-09 as against huge inflows of Rs 53,000 crore in the previous fiscal, according to latest information on the Sebi website.
Analysts believe despite the huge outflows this fiscal, FIIs may resume investments in Indian equities later in FY10, as the country still remains an attractive investment destination with sound fundamentals.
"Going forward, we believe that while the near-term could remain volatile on the FII inflows front as elections are around the corner, but broadly, ...There is a high probability that we will end FY2010 with positive inflows from FIIs," Angel Broking Research Head Hitesh Agrawal said.
Global institutional investors had started to pull out money from emerging markets including India from September 2008 in the face of a severe liquidity crunch in the US and UK due to the global economic crisis.
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