FII inflow in July highest since ’93

NEW DELHI: The net FII inflow in the cash market in July was the highest ever on a monthly basis since FIIs started investing in 1993. Year-to-date, FIIs have purchased securities worth $ 11.8 billion through the cash and derivatives segments.

While FII inflows into the cash market were positive for a seventh month running, domestic institutions were net sellers after three months of buying. In July, India outperformed emerging markets and Asia, according to Morgan Stanley estimates.

In July, India’s performance ranking among emerging markets rose to 8th position. On a 12-month trailing basis, India continues to outperform emerging markets and Asia, even as it marginally underperforms emerging Asian markets in 2007.

Utilities was the best performing sector in July, for a second month running, whereas healthcare was the worst sector. Energy remains the best performing sector on a year-to-date basis, and healthcare slipped to the bottom in July on the same parameter.

Read more in The Economic Times