New Delhi: Foreign institutional investors were net buyers on Dalal Street, pumping in $6 billion during the quarter ended December on expectations of change in government in the upcoming general elections, says a Bank of America Merrill Lynch (BofA-ML) report.
It was a nearly 10-fold jump from the inflows of the previous, July-September, quarter.
"During December quarter, FIIs remained positive on Indian markets on expectations of change of government in the upcoming general elections," the report noted.
This was the fifth consecutive quarter when the Indian markets have seen positive flows from FIIs.
"...close to $6 billion was pumped in the Indian equity markets by FIIs in the October-December quarter as compared to $700 million inflow in the previous quarter," the report noted.
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