FII inflows cross $3 bn on Dalal Street

It's raining dollars in the Indian stock market as overseas investments on the local bourses this year have already crossed the $3 billion mark.

Foreign Institutional Investors (FIIs) have put in a net $3.05 billion (over Rs 13,500 crore) in the Indian stock markets so far in 2007, taking their total net investment in the country till date to over $52 billion.

However, net inflows from foreign institutional investors in the current year is over $1 billion less than the amount invested during the corresponding period of the previous year.

More than half of the net investment by FIIs this year was in April alone, as the overseas investors returned to the bourses after the Sensex regained the 14,000 levels.