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FIIs favour India; will keep investing: ICICI exec

Source: PTI
June 11, 2009 15:26 IST
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India's image as a safe investment destination has been further cemented by the post-poll stock market rally and global investors would keep coming in with huge funds during 2009, ICICI Securities' chief Madhabi Puri Buch said on Thursday.

"Market should sustain its growth momentum. The foreign institutional investment liquidity will also continue. . . We have a large number of FII clients and they all are very bullish about Indian market," she told PTI in a telephonic interview.

Buch noted that about 90 global funds, at a conference hosted by I-Sec in March, had said that "even if markets went down, their India allocation would be intact."

"That was the time when things were not so rosy for the stock market and there was a level of uncertainty among the investors. . .Despite that the funds were bullish about India," she added.

The MD and CEO of the country's top equity brokerage house said that in less than two and half months of the current fiscal, FIIs have already pumped in $6.3 billion -- which is more than half of the total outflow of about $11 billion in the previous fiscal 2008-09.

"Going forward, I would say that we see continuation of FII inflow over the next 3-6 months," she said.

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