Foreign institutional investors were gross buyers of shares worth Rs 49,557 crore (Rs 495.57 billion), while they sold equities amounting to Rs 39,285 crore (Rs 392.85 billion), translating into a net inflow of Rs 10,273 crore ($1.85 billion), according to the data available with the Securities and Exchange Board of India.
This was the highest net investment by FIIs in stocks since February 2012 when they had infused Rs 25,212 crore (Rs 252.12 billion).
Market experts said foreign investors have sidelined concerns over weak monsoon, slowing economic growth and a high interest rate regime, mainly on hopes that government would initiate fresh reforms initiatives.
"Besides, investors are expecting that the government would initiate a few key reforms before the start of the Monsoon Session of Parliament on August 8,"
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