FIIs pump in Rs 4,900 cr in Indian stocks in week to April 4

The total investment by foreign institutional investors (FIIs) in equities so far in 2014 has risen to Rs 27,088 crore (USD 4.46 billion)

Foreign investors poured in almost Rs 4,900 crore in the Indian stock market last week primarily on hopes of a strong reformist government after elections.

The total investment by foreign institutional investors (FIIs) in equities so far in 2014 has risen to Rs 27,088 crore ($ 4.46 billion).

Market analysts say FIIs are bullish on India on expectations a strong reformist government would come to power after the Lok Sabha elections, scheduled from April 7 to May 12.

Analysts are of the view that a positive bias towards the Indian equity market would continue in the coming weeks.

FIIs were gross buyers of shares worth Rs 22,194 crore and sellers of stocks to the tune of Rs 17,302 crore in the week to April 4, resulting in a net inflow of Rs 4,892 crore ($ 815 million), according to data with the Securities and Exchange Board of India.

FIIs invested Rs 258 crore in the debt market during the week.

Last month, overseas investors had invested Rs 20,077 crore in Indian stocks compared with Rs 1,404 crore in February and Rs 714 crore in January.

As of April 4, there were 1,714 registered FIIs in the country and 6,359 sub-accounts.