FPI inflows touch $1.5 billion in Oct

Continuing to bet big on the government’s reforms agenda, overseas investors have poured in $1.5 billion in the Indian market so far this month taking the total inflow to $35 billion since January. The net investment by foreign investors into debt market was at Rs 12,645 crore ($2.06 billion) between 1-22 October, while they pulled out Rs 3,500 crore ($570 million) from the stock market during the same period, taking the total to $1.5 billion, as per latest data. Market analysts maintain that foreign investors have been betting on the Indian market mainly on account of the reforms agenda of the new government at the Centre. Also, they anticipate inflows would continue in the coming months on slew of measures announced by the government. The Cabinet has given the go-ahead to deregulation of diesel price and also came out with a new gas pricing formula. Besides, government has promulgated ordinance for e-auction of coal blocks.