Net FII inflows top $7 billion

Net investment by foreign institutional investors (FIIs) in the domestic market this year now stands at $7.1 billion. This is more than double the previous best of $3.05 billion in 1996.

Of the $7.1 billion (Rs 32,924 crore) in net foreign institutional investment till December 16, 2003, investment in equity stands at around $6.05 billion, while the rest is in debt.

In the past one month, FIIs poured nearly $1 billion into the Indian capital market. On November 14, their investment touched $6 billion.

FII investment in December (till December 17) touched $ 914 million (Rs 4,152 crore), up from $ 788 million in November. October saw the highest monthly net flow into the market at $1.47 billion (Rs 6,862.60 crore).

Also, there has been an exponential rise in inflow between September and October. While a net inflow of $0.96 billion was recorded in September, the figure shot up to $1.47 billion in October. In the first nine trading days of November, FIIs pumped in $0.57 billion.