FIIs put $1.3 billion in Indian equities in April

Total investment by foreign institutional investors in equities since January 2014 has risen to Rs 29,960 crore

Foreign investors have so far pumped in a staggering Rs 7,764 crore ($1.3 billion) in the domestic stock market this month, primarily on hopes of a strong reformist government after the general elections.

Total investment by foreign institutional investors (FIIs) in equities since January 2014 has risen to Rs 29,960 crore ($4.94 billion).

Market analysts say FIIs are bullish on India, expecting a strong reformist government taking charge after the ongoing Lok Sabha elections.

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

FIIs were gross buyers of shares worth Rs 44,335 crore and sellers of stocks to the tune of Rs 36,571 crore in the week to April 11, resulting in a net inflow of Rs 7,764 crore ($1.3 billion), according to Sebi data.

Foreign investors, however, pulled out Rs 2,897 crore from the debt market during the period under review.

FIIs, the main driver of the equity market, pushed up the BSE's benchmark Sensex by 243 points, or 1.08 per cent, so far this month.

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

As of April 11, there were 1,714 registered FIIs in the country and 6,391 sub-accounts.