Financial Daily from THE HINDU group of publications
Saturday, Sep 27, 2003
Financial Daily from THE HINDU group of publications Saturday, Sep 27, 2003 |
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Foreign Institutional Investors Markets - Foreign Institutional Investors FII registration falls even as inflows rise Virendra Verma
Mumbai , Sept 26 WHILE the number of foreign institutional investors (FIIs) registered with the Securities and Exchange Board of India (SEBI) has come down by 13 to 508 this week, their investment touched a record Rs 3,906 crore so far this month, the highest in a single month. The cumulative net FII investments as on September 25 were Rs 18,185.6 crore, the highest so far in year since FII started investing in the capital market. The fall in number of registered FIIs last week seems to be insignificant as their numbers keeps changing with some of them not renewing their registration, said a top official with a broking firm. According to SEBI figures, the FIIs registered with it have declined to 508 on Wednesday compared to 521 FIIs registration, a week ago. Brokers said FIIs were bullish on India and more inflows of funds are expected. India seems to be a more attractive investment destination among the emerging Asian markets. The increased FII interest has been visible in the equity markets over the past few months. A stock broking firm that services FIIs clients said it is usual for the FIIs registration to increase or decrease. They said in the current context, the registration has declined as the FIIs did not wanted to renew it. He said the fall in registration could be due to some FIIs having multiple registrations deciding not to renew all the registrations, as it is cumbersome to report the investment data to the market regulator under each registration on a regular basis. It is also possible that those who were not active in the market would have decided not to renew the registration. Even now the number of registered FIIs in India have increased since the beginning of this year. The number has increased from 489 to 508.
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