FIIs pour in Rs 1 lakh cr since Modi declared BJP PM candidate

Foreign investors have pumped in over Rs one lakh crore in the Indian securities market since Narendra Modi was announced as the prime ministerial candidate by Bhartiya Janta Party (BJP) in September last year.

As per latest data compiled by capital markets regulator Sebi, the net investments by FIIs into Indian equity markets stood at Rs 88,772 crore since the announcement. The same for debt markets was at Rs 13,399 crore -- taking the total to Rs 1,02,171 crore.

Modi was anointed as PM-candidate by BJP on September 13 last year.

Market analysts believe that FIIs have been betting on the Indian market mainly on hopes of a stable and reforms-oriented government. The inflows are expected to surge further as the verdict met overseas investors' expectations in the Lok Sabha Polls.

"FII investments may pick up in a hurry," Karvy Capital CIO Swapnil Pawar said as Modi is set to lead the next government at the Centre after the BJP crossed the 272 mark comfortably on its own, without allies, winning 282 seats.

FIIs, the main driver of the equity market, have helped pushed up the benchmark BSE Sensex by over 22% since September 13.

In 2014 alone, FIIs have infused a net amount of over Rs 74,000 crore in the domestic market, which included more than Rs 41,000 crore in equities and nearly Rs 33,000 crore in the debt.

Currently, there are 1,700 registered FIIs in the country, while the number of sub-accounts stood at 6,408.

EDITORIAL OF THE DAY

  • Saffronites need to build their own edifices and narratives

    The news that the BJP-led NDA government, no admirers of India’s first prime minister, want to give a ‘contemporary’ look to the capital’s mos

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Amita Sharma

Examining times for learning

The central advisory board of education in its meeting on ...

Zehra Naqvi

Capturing change

The pace of change in the world around us can ...

Gautam Gupta

Bring on the Benares brigade

It was in 2003 when I first started work and ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture