FIIs buy $1.1 bn worth of stocks

Foreign institutional investors (FII) on Tuesday invested a whopping $1.1 billion into Indian stocks adding to their year’s buying tally of $14.75 billion.

According to provisional data from the National Stock Exchange (NSE), FIIs made a net purchase of Rs 5,845.58 crore (gross buying of Rs 8,586 crore and gross selling of Rs 2,740.42 crore).

However, according to brokers, such a high net buying figure could be due to a block deal in Cairn India shares.

According to NSE data, 152.6 million shares worth Rs 4,932 crore of Cairn

India were sold by promoter Cairn UK Holding to a clutch of investors through bulk deals. Four FIIs, including Citigroup and HSBC, bought a total of 75.6 million shares of the company worth Rs 2,443 crore.

 

Before on Tuesday’s purchase, FIIs had bought shares worth Rs 13,415.6 crore ($2.47 billion) so far this month and Rs 76,426 crore ($14.75 billion) since the start of 2012, shows Sebi data.