FII investment crosses $3 bn-mark

Foreign Institutional Investors (FIIs) inflow into the Indian stock markets has crossed the three-billion-dollar mark (over Rs 15,725 crore) so far this year, with as much as two billion dollar coming in just five trading sessions. As per the latest data available with the Securities and Exchange Board of India (SEBI), FIIs made net purchases worth 3.2 billion dollars or over Rs 15,725 crore so far in 2009, with the stock market seeing major investments in the past three weeks. On Tuesday alone, FIIs put in as much as Rs 5,044.8 crore (1.06 billion dollars) in the domestic share markets, the SEBI data shows. "Since several past weeks, overseas fund houses are making investments in the many emerging markets and India is the part of that investment," brokerage firm Sharekhan's Research Head Gaurav Dua said from Mumbai. Since last week, FII inflows increased significantly with net investments of Rs 4,085 crore on May 14, followed by 1,000 crore on May 18, Rs 53 crore on May 19 and again a huge Rs 5,044 crore on May 20. However, during the period, the markets also witnessed sale of shares worth Rs 345 crore by the overseas investors, the SEBI data shows. Since the beginning of new fiscal year, FIIs have started putting money in domestic stocks, including blue-chips.