FIIs stick to Modinomics, buy equities worth over Rs 85K crore since exit polls

The Indian market has been a favourite spot for the FIIs ever since the exit polls were announced ushering in the formation of a government by Narendra Modi: the FIIs have bought equities worth Rs 85,040.63 crore between May 20 and June 3.

On May 20 just after the exit polls were announced, FIIs's gross purchases were Rs 7521.24 crore and on May 21, the amount stood at Rs 7068.71 crore. The FIIs bought equities worth Rs 4,866.64 crore on May 22 and on May 23, the date of election results, FIIs bought Rs 8288.64 crore worth equity.

On May 24, the foreign investors purchased Rs 6027.76 crores of equity and on May 27, the equities bought by them was valued at Rs 6,414.77 crore. The trend continued, and on May 28, when FIIs bought equities worth Rs 23,453 crore. On May 29, the FIIs purchased Rs 4,791.26 crore while the next day on May 30, the gross purchase was Rs 7,552.41 crore and on May 31, the purchases were Rs 9,541.23 crore, as per the database of Capital market.

In June till June 3, 2019, the gros purchase by the FIIs was Rs 7752.61 crore.

In May 2019, the gross purchases by the FIIs was Rs 1,31,468 .97 crore which was up from Rs 1,02,562.51 crore in April 2019. Out of May numbers of FIIs on equity investment, from May 20-May 31, the gross investment is Rs 77,288 crore.

--IANS

ana/prs