FII inflows cross Rs 50K cr in a month for the first time

New Delhi, Nov 24 : For the first time, buying by foreign institutional investors (FIIs) has crossed Rs 50,000 crore in a month in November. There are six days still left to go in the month. Till November 24, FIIs have bought equities worth Rs 50,501.07 crore and on Tuesday they bought equities worth Rs 4,563.18 crore.
Nilesh Shah, Managing Director, Kotak Asset Management, said in a tweet, “For the first time FPI buying in equities has crossed Rs 50,000 Crore in a Month. And the month is not yet over.” This funds binge by FIIs has led to Indian markets scaling new highs every passing day. While FIIs have been buying non-stop, domestic funds are selling off.
Hemang Jani, Head – Equity Strategy, Broking & Distribution, Motilal Oswal Financial Services Ltd, said FIIs have made highest monthly buying in November 2020 in the last two decades. They have pumped in approximately Rs 50,989 crore in November itself and have invested approximately Rs 1.31 lakh crore in India year to date.
“This has helped the indices touch the 13K levels. The inflow increased considerably, especially after the end of the election in the United States and weakness in the dollar index.
Another major reason behind such a large inflow is the expected stimulus worth trillions of dollars from central banks to revive economies that are hit hard by the Covid-induced lockdown”, he added.