Overseas investors pumped in over Rs 24,000 crore ($ 4.6 billion) in Indian stock market during February, the eighth consecutive month of inflows, taking the total investment tally to $ 8.4 billion so far this year.

Foreign Institutional Investors (FIIs) were gross buyers of shares worth Rs 78,888 crore, while they sold equities amounting to Rs 54,449 crore -- a net inflow of Rs 24,439 crore ($ 4.57 billion), according to Sebi data.

This was the eighth straight month of net investment by FIIs starting July, 2012.

"FIIs continued to be bullish on Indian equities and heavily invested in Sensex and Nifty companies. We expect this inflows would continue in the coming months as well as Finance Minister P Chidambaram has hinted that he would take reform initiates in the Parliament session," CNI Research CMD Kishor Ostwal said.

With an aim to attract more foreign investment into the stock market, the Finance Minister proposed to strengthen capital market regulator Sebi and cut the securities transaction tax, which will bring down overall costs for investors.

Wooing overseas investors, he said Sebi will simplify the procedures and prescribe uniform registration norms for foreign portfolio investors.

Foreign investors also infused Rs 4,001 crore ($ 743 million) in the debt market in February. This takes the overall net investments by FIIs into debt markets to Rs 7,712 crore ($ 1.43 billion) so far this year.

In 2013 so far, FIIs net investment into the Indian equities have reached to Rs 45,223 crore ($ 8.4 billion)

FIIs bought equities worth $ 24.4 billion in 2012, about $ 5 billion below record purchases two years ago.

As on March 1, the number of registered FIIs in the country stood at 1,758 and total number of sub-accounts was 6,333.