FII- Foreign Institutional Investor

8/8/2019 FII- Foreign Institutional Investor

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FII flows & impact on stock market Hiren Lathiya

JHAVERI Securities Pvt.Ltd. 1

Introduction of JHAVERI

Derivative and JHAVERI

JHAVERI and IPO

JHAVERI and DEMAT

Equity and JHAVERI





ABOUT THE COMPANY

We are leading Gujarat brokerage house with strong and stable

position in the financial market having extensive experience in

financial survey, capital market, and mutual fund distribution and

have varied skill set to support the team to develop the business.

Looking into business opportunity, the company is developing invery aggressive way all over India, horizontally and vertically

having full infrastructure with all the necessary corporate facility.

Our philosophy

Providing quality customer service is the cornerstone of the

company philosophy ² consistently meeting all customerrequirements in every way.

Our goal

To march ahead challenging the horizons of the service industry in

providing benchmark service. Creating value for customer

enabling them to competitive and differentiate themselves on

marketplace.





Mission

To be the best broking house by offering world class financial

services and cliental satisfaction.

Vision

Jhaveri shall be recognized as a market leader and to build unique

organization of those who think different and offering and

redefine rules. Jhaveri believes in complete freedom in doing one·s

own work and focusing more on end result.

Milestone

Feb-2008 Crossed the 250 mark in term of business associate

Jan-2008 Crossed the 60,000 mark in DP

Jan-2008 Roll out of 200 wealth creation seminars

Jan-2008 Crossed the 500 terminal mark

Jan-2008 Crossed the 65,000 mark in KYC

Jul-2008 Web-enabled back office software developed

Jun-2008 Launch of online Trading platform

Aug-2006 Publication of first Research Report

Apr-2006 Incorporation of commodities Broking division

Mar-2008 BSE cash membership

Jan-2005 MCX/NCDX Membership





Feb-2003 F & O Membership

Jun-2000 NSDL Membership

Nov-1999 first investor seminar of JHAVERI Group

Jun-1995 NSE (cash) Membership

Jan-1992 Incorporation if Jhaveri Pvt. Ltd

Apr-1989 Commenced Mutual Fund and IPO distribution





DERIVATIVE AND JHAVERI

A Derivative Includes: A security Derived from a debt instrument,share loan whether secured or unsecured, risk instrument or

contract for differences or any other form of security. Derivatives

(Futures and Options) are ideal instruments to protect your

portfolio against risk. You can trade with your index movements,

hedge and leverage your portfolio by limiting risk and at the same

time keeping you·re up side unlimited.

The term ´Derivativeµ Indicates that it has no independent value,

i.e. its value is entirely ´derivedµ from the value of the underlying

asset. The underlying asset can be securities, commodities, bullion,

currency, and livestock of predetermined fixed duration, linked

for purpose of contract fulfillment to the value of specified real or

financial asset or to index securities.

Start your trading in just four easy steps:

y Open an account with JHAVERI.

y Pay your margin money.

y Trading of Future and Option.

y Enjoy your Derivative trading





Jhaveri Offering

y Online web based trading platform

y Online daily, weekly and monthly market view.

y Transparent and fair trade execution.

y Online Market information.

y Daily Telephonic market idea.

y Individual client attention.

y Digital contract notes cum bill: View your accounts from

anywhere, any time.

y Efficient risk management.

y Timely arrangement of Seminar with the slogan of LEARN &

EARN.

y Personalized services through all our Client Base.





JHAVERI AND IPO

IPO means initial public offering and it comes under primary

market. IPO is one of the Famous and attractive option of

investment. IPO are basically the first sale of stocks done by the

company to the public to seek capital or to become publicly traded.

There is two method of IPO Price decision. Book building was

introduced in India in 1999 and it has been steadily gaining greater

acceptance vice versa the traditional fixed price IPOs. In the bookbuilding process, underwriting banks, in consultation with

institutional investors and the issuer, estimate a price band for the

stock to be put on sale. Book building IPOs used to allow some

allocation discretion to the lead managers but this has been

reduced since September 2005. If there is oversubscription,

allocations are now made to institutional and retail investors as

per quotas on a pro-rata basis. Allocations in a fixed price IPO are

made on a purely pro-rata basis.

Start your trading in just three easy steps


y Fill up form of IPO.

y Enjoy Attractive Option of investment.





Jhaveri Offering

y Daily providing information regarding new IPO.

y Full Assistance for IPO.

y Availability of IPO forms at JHAVERI Center near your

location.

y Providing real time information regarding IPO.

y Individual client attention.

y Timely arrangement of Seminar with the slogan of LEARNS

& EARN.

y Personalized services through all our Client Base.





JHAVERI and DEMAT

Jhaveri Securities Pvt. Ltd has avail Depository Membership with

National Securities Depository Ltd, Mumbai ( NSDL ) in the year

2000 with the sole intention to serve the investor of Gujarat to

facilitate them in availing Depository Services.

Depository Services can be avail by investors like opening of

Beneficiary Account, Dematerialization, Re-materialization,

Repurchase, Redemption, Transfer of Securities, Pledge andHypothecation, Securities Lending and Borrowing, Non cash

Corporate Benefit by Companies and RTA etc.

With the facility of De-mat Account (Beneficiary Account) now

investor can change their Correspondence address and Bank

details easily and not need to send communication to the separate

companies and RTA.

Account Opening:

To open Beneficiary Account investors need to fill up Account

Opening form (AOF) along with the copy of Proof of Identity and

Proof of Address as per approved list from NSDL and SEBI.

Investors need to provide recent pass port size photograph duly

pasted and cross sign on the AOF.

AOF need to be filled up correctly and duly signed by sole / all

joint holders at the required places marked in the AOF.





Generally investors required to open Beneficiary Account under

status of Resident Individual. More over investor can open

Beneficiary Account under category of HUF and NRI also. By

Depository services investor has an option to open Beneficiary

Account for Minor represented by Natural / Guardian and opt for

invest in capital market. Investors are also having an option to

open Beneficiary Account for Corporate entity also.

Standing Instruction Facility:

By selecting this facility at the time of Account Openi ng, Clientneed not to provide receipt instructions at each time as and when

securities are transfer from either market transfer, off market

transfer and inter depository transfer.

Change in Address:

Client can change his address by submitting the changes in writingto the DP along with proof of identity, proof of new address with

original documents of new address for verification and latest

transaction statement received from the DP of the client. If client

visit personally to DP/ Branch Office, in such case latest

transaction statement is not require to submit.

Bank Account Details:

Details of bank account of the client including the 9 digit code

number of the bank and branch appearing on the MICR Cheques

issued by the bank have to given to the DP at the time of account





opening. Companies use this information for printing them on

dividend / interest warrants preventing its misuse. In case clients

wish to change this bank details, he can do so by submitting the

changes in writing to DP.

Nomination:

Client can make a nomination of his account in favor of any person

by filling the nomination form with the DP. Such nomination is

considered to be conclusive evidence of the account holder(s)

disposition in respect of all the securities in the account for whichthe nomination is made.

Consolidation of Accounts:

Some client has opened multiple accounts to dematerialize their

shares held in multiple combination and sequence of names.

However, they may not need so many accounts after they havedematerialized their securities and may want to bring all their

shareholdings into one or fewer accounts. Using off market

account transfer instruction such consolidation can be done.

Closure of Account:

A client can close a depository account by giving an application inthe prescribed form. In case there is any balance in the account

sought to be closed. If holding in securities by client, then by

taking following steps, client can close the accounts.







Transposition cum De-mat:

If client held jointly securities can be de-materialized in an account

of the same joint holders but having different sequence of names,

e.g. securities held in joint names of A and B can be dematerialized

in an account opened in the names of B and A by submitting an

additional form called Transposition Form along with DRF

(Dematerializing Request Form) to the DP.

Client has to take care while submitting Transposition Form that in

this form signature shall be execute as per Holding pattern ofphysical share Certificate.

Transmission cumDe-mat:

If client held jointly securities can be de-materialized in an account

of the sole / surviving holders where one of the holder has pass

away (demise) e.g. securities held in joint names of A and B can bedematerialized in an account opened in the names of A by

submitting an additional form called Transmission Form along

with DRF (Dematerializing Request Form) to the DP.

Client has to take care while submitting Transmission form that in

this form signature of surviving holders shall be execute.

Re-materialization of securities:

By these services, investors have an option to convert their

electronic holding into physical securities. For this investor





required to submit the Re-materialization Request Forms duly

filled at the DP Office / Branch office.

Repurchase / Redemption of securities:

By this service, investors have an option to execute Repurchase

offer / Redemption of securities of their electronic holding to the

company / RTA. For this investor required to submit the

Repurchase / Redemption Request Forms duly filled at the DP

Office / Branch office.

Transfer of Securities:

M arket Transfer:

Investor has option to transfer of free securities in their holding as

per their discretion. Investor requires filling up the Delivery

Instruction Slip for market and Off-market transfer of securities in

NSDL depository. Investor has also option to transfer free

securities in other Depository by submitting Inter Depository Slip

at the DP / Branch Offices.

y O ff- M arket Transfer

Client can submit written Delivery Instruction Slip issued by DP,

to transfer securities from one Beneficiary Account to Other

Beneficiary Account either in same DP or with Other DP.







Corporate Benefit:

C ash Benefit declared by C ompanies

By keeping shares in electronic forms client can easily get facility

for Direct Credit of Cash benefit by the companies through ECS (

Electronic Clearing Service ) by providing their MICR numbers

where MICR facility available through RBI / designated Banks.

For this client has to provide / update MICR number at the time of

Account Opening / Modification of Bank Details in Change of

Bank Details form duly signed by sole / all joint holders along

with copy of Cancelled cheques of respective Bank and Branch.

Advantages:

y Loss of instrument in-transit and fraudulent encashment

thereof can be totally eliminated.

y Effortless receipt for investor - no need to visit the bank for

depositing the warrant.

y Reconciliation will be smooth.

y Investor grievances will be handled by NSDL.

y Issuer can ensure better investor service.





N on C ash Benefit :

By keeping shares in electronic forms client are receiving all non

cash benefit directly in the Beneficiary Account like Change of

Face value, Sub division of Capital, Merger and De-merger,





Equity and JHAVERI

JHAVERI was incorporated in 1992 with a vision to offer

exemplary to its discerning clients. JHAVERI is engaged in

trading/advisory services in Indian capital market and commodity

market. JHAVERI started its operation in Indian capital market by

acquiring membership in India·s National Stock Exchange and

Bombay stock exchange(SEBI REGISTRATION NO ² NSE : INB

230823233/INF 230823233, BSE :INB TH A0 10823236, NSDL ; IN-

DP-NSDL ² 166-2000). For more than 15 years, equity broking has

been the mainstay for JHAVERI from the day of Sauda in the ring

to fully computerized, it has transformed it self very well.

JHAVERI is one of the largest stock broking houses of Gujarat,

with a strong network of 14 Branches & 225 Franchises. Started in

1992, now with a client base of over 60,000, JHAVERI have played

a pivotal role in the development of primary and secondary

markets of exchanges and stable positions in the financial market.

Now JHAVERI is expanding its boundary outside Gujarat. We

have started with Rajasthan and Mumbai.

Start your trading in just two easy steps


y Enjoy your Equity trading with Indian Capital Market.





Jhaveri Offering

y Online web based trading platform

y Online daily, weekly and monthly market view.

y Transparent and fair trade execution.

y Digital contract notes cum bill: View your accounts from

anywhere, any time.

y Efficient risk management.

y Timely arrangement of Seminar with the slogan of LEARNS

& EARN.

y Personalized services through all our Client Base





Stock market basic

Foreign exchange market

Future and option





STOCK MARKET BASICS

Understanding the stock market starts with a basic understanding

stocks. A stock represents partial ownership of a company ² thesmallest share possible. Company's issues stocks to raise capital

and investors who buy stock are actually buying a portion of the

company. Ownership, even a small share, gives investors rights to

a say in how the company is run and a share in the profits (if any).

While stocks give owners certain rights, they do not carry

obligation in case the company defaults or faces a lawsuit. In a

worst-case scenario the stock will become worthless but that is the

limit to the investor's liability.

Companies issue stocks to raise capital. They may need a cash

injection to expand or to acquire new properties. Each stock issue

is limited to a certain number of shares, and when they are issued

they are given a par value. The market quickly adjusts that par

value according the perceived health of the company and its

potential for growth.

Investors usually buy stocks because they believe the company will

continue to grow and the value of their shares will rise

accordingly. Investors who acquire stock in a new company are

taking more of a risk than buying shares of well-established

companies but the potential gain is much greater. Those who

bought Microsoft shares early in the game (and did not sell them)

saw an exponential rise in their value.





Stock trading is done on stock markets like the New York Stock

Exchange (NYSE) or NASDAQ (National Association of Securities

Dealers Automated Quotation System). This means that only

companies listed on a public exchange have shares that can be

bought and sold on the open market. Of course, you could also

buy partial ownership in a smaller company that is not listed on a

stock market but that is a very different type of investment than

buying stocks.

Because stocks must be bought and sold on a stock market, an

individual investor needs a broker to make transactions for him.

Brokers take orders to buy or sell a certain stock. The order may

include instructions to trade at a certain price or simply what the

market will bear. Once the broker receives the order he attempts to

execute it by finding a buyer or seller as the case may be. The

buyer or seller is also represented by a broker and each broker

receives a commission on the sale.

Advantages of Stock Ownership

Stocks have several advantages over savings investments. Because

they represent ownership in a company they give the holder rights

to participate in major decisions the company faces. Every share

represents one vote and shareholders are regularly asked to vote

on important matters. Ownership also allows stockholders to

benefit from any profits the company makes. Profits are

distributed in the form of dividends, and may be issued once or

twice a year at the discretion of the company directors.





If the company prospers the value of the stock will rise and

distribution of profits also increases. The downside of this is that if

the company does poorly the value of the stocks may fall.

When compared with savings investments (like bonds or bank

certificates of deposit) stocks have the potential to earn more

money -- but they also carry the risk of loss. Learning about the

stock market and the various investment strategies can help to

minimize loss, and most investors find they do much better on the

stock market than is possible with any kind of savings investment.

Stock Trading

The phrase Stock Trading is commonly used to encompass both the

physical location for buying and selling (trading) stocks as well as

the overall activity of the market within a certain country. When

we hear an expression such as the stock market was down today it

refers to the combined stock trading activity of many stock

exchanges i.e. the New York Stock Exchange (NYSE), Nasdaq etc.

in the United States.

Stock Exchange is the term for the physical location where the

actual activity of stock trading/share trading or investing in stocks

takes place. Most countries have many different stock exchanges

and usually a particular company's stocks are traded on only one

exchange, although large corporations may be listed in several

different locations.





Stock Exchanges

Stock exchanges exist throughout the world. It is possible to buy or

sell stocks on any of them by having trading accounts with the

various stock brokers. You can also get stock trading information

from these exchanges. The only restriction is the opening hours of

each exchange. For example, NYSE and NASDAQ allow stock

trading operations from 9:30 a.m. to 4:00 p.m. Eastern Time from

Monday to Friday. Other exchanges have similar opening hours

based on their local time. If you want to trade on the Hong Kong

Stock Exchange your order will be executed sometime between

9:30 p.m. and 4:00 a.m. New York time.

The major stock exchanges of the world are located in Japan

(Tokyo Stock Exchange), India (Bombay Stock Exchange), Europe

(London Stock Exchange, Frankfurt Stock Exchange, SWX Swiss

Exchange), the People's Republic of China (Shanghai Stock

Exchange) and the United States. The major exchanges in the US

are the NYSE, NASDAQ, and Amex.

By providing a centralized, ready market for the exchange of

securities, stock exchanges greatly facilitate the financing of

business through flotation of stocks and bonds. However,

speculative stock trading can sometimes accentuate the instability of

an economy. The reality of the Great Depression was emphasized

by the stock market crash in 1929. The interstate sale of securities

and certain stock exchange practices in the United States are





regulated by federal laws administered by the Securities and

Exchange Commission.

Stock trading closely follows the economy of a country. When the

economy is doing well, the market is bullish. Bull markets occur

during times of high economic production, low unemployment

and low inflation. Bear markets, on the other hand, follow

downtrends in the economy. When inflation and unemployment

see an upturn, stock prices start falling. Hence, to keep

investments safe, savvy investors track various economic indices,

and stock market trends.

Fluctuations in stock prices are also driven by supply and demand,

which in turn are determined to a large extent on investor

psychology. Seeing a stock rise in price may cause investors to

jump on the bandwagon and this rush to buy drives the price even

faster. A falling price can have the same effect. These are short

term fluctuations. Stock prices tend to normalize after such runs.

Hence, to predict possible upturns or downturns in the stock

markets, it becomes imperative to track and analyze stock trading

information.

The stock exchange is only one of many opportunities to invest.

Other popular markets include the Foreign Exchange Market

(FOREX), the Futures Market, and the Options Market.



FII fl ¡

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FOREIGN EXCHANGE MARKET

The FOREX is the biggest (in terms of value of trades) investment

market in the world. FOREX traders buy one currency againstanother and can profit from small changes in value. Most FOREX

trades are entered and exited in one 24 hour span, and traders

have to keep a close watch on the market in order to make

profitable trades.

FUTURES & OPTIONS

The Futures Market is a market of contracts to buy and sell goods

at specified prices and times. It exists because buyers and sellers of

goods wish to lock in prices for future delivery, but market

conditions can make the actual futures contract fluctuate

considerably in value. Most investors in the futures market are not

interested in the actual goods - only in the profit that can berealized in trading the contracts.

The Options Market is similar to the Futures Market in that an

option is a contract that gives you the right (but not the obligation)

to trade a stock at a certain price before a specified date. They can

be traded on their own or purchased as a form of insurance against

price fluctuations within a certain time frame.

All three of these markets are quite risky and require considerable

knowledge and experience to prevent substantial losses. They also

require close attention to market movements. Stock Investments,





on the other hand, are less risky because movements of the market

are usually gradual. Although short term investment strategies are

possible, most view stocks as long term investments. But whatever

your financial objectives may be, try to use a stock trading system.

This will help you in maximizing your profits and keeping your

investments safer





Definition and meaning

Eligibility criteria for

registration for FII

Some related term to FII





DEFINITION OF FII:

´An investor or investment fund that is from or registered in a

country outside of the one in which it is currently investing.Institutional investors include hedge funds, insurance

companies, pension funds and mutual funds.µ

´The term is used most commonly in India to refer to outside

companies investing in the financial markets of India.

International institutional investors must register with the

Securities and Exchange Board of India to participate in the

market. One of the major market regulations pertaining to FIIs

involves placing limits on FII ownership in Indian companies.µ

One who propose to invest their proprietary funds or on behalf

of "broad based" funds or of foreign corporate and individuals

and belong to any of the under given categories can be

registered for FII.

Pension Funds

Mutual Funds

Investment Trust

Insurance or reinsurance companies

Endowment Funds

University Funds

Foundations or Charitable Trusts or Charitable Societies

Asset Management Companies

Nominee Companies

Trustees





Bank

An application for registration has to be made in Form A, the

format of which is provided in the SEBI(FII) Regulations, 1995 and

submitted with under mentioned documents in duplicate

addressed to SEBI as well as to Reserve Bank of India (RBI) and

sent to the following address within 10 to 12 days of receipt of

application.

Pension Funds

Pension funds can invest in many different types of financial

securities and can own assets directly. The type of investments

undertaken by a pension fund depends on its "investment policy

statement". The nature of the investments allowed in the policy

statement depends in a large part on the financial situation of the

plan. Generally, the better the finances and the younger the plan

participants, the more riskier the investments that can be held by

the plan.

Mutual Funds

Mutual Fund is a investment company that pools money from

shareholders and invests in a variety of securities, such as stocks,

bonds and money market instruments. Most open-end mutual

funds stand ready to buy back (redeem) its shares at their current

net asset value, which depends on the total market value of the

fund's investment portfolio at the time of redemption. Most open-

end mutual funds continuously offer new shares to investors.





In Simple Words, Mutual fund is a mechanism for pooling the

resources by issuing units to the investors and investing funds in

securities in accordance with objectives as disclosed in offer

document.

Investment Trust

Investment trusts are companies that invest in the shares of other

companies for the purpose of acting as a collective investment.

Investors' money is pooled together from the sale of a fixed

number of shares a trust issues when it launches. The board will

typically delegate responsibility to a professional fund manager to

invest in the stocks and shares of a wide range of companies (more

than most people could practically invest in themselves). The

investment trust often has no employees, only a board of directors

comprising only non-executive directors. However in recent years

this has started to change, especially with the emergence of both

private equity groups and commercial property trusts both of

which sometimes use investment trusts as a holding vehicle.

Investment trust shares are traded on stock exchanges, like those

of other public companies. The share price does not always reflect

the underlying value of the share portfolio held by the investment

trust. In such cases, the investment trust is referred to as trading at

a discount (or premium) to NAV (net asset value).





Insurance or reinsurance companies

Insurance, in law and economics, is a form of risk management

primarily used to hedge against the risk of a contingent loss.

Insurance is defined as the equitable transfer of the risk of a loss,

from one entity to another, in exchange for a premium, and can be

thought of as a guaranteed small loss to prevent a large, possibly

devastating loss. An insurer is a company selling the insurance; an

insured is the person or entity buying the insurance. The insurance

rate is a factor used to determine the amount, called the premium,

to be charged for a certain amount of insurance coverage.

Reinsurance is a means by which an insurance company can

protect itself with other insurance companies against the risk of

losses. Individuals and corporations obtain insurance policies to

provide protection for various risks (hurricanes, earthquakes,

lawsuits, collisions, sickness and death, etc.). Reinsurers, in turn,

provide insurance to insurance companies.

Endowment Funds

A financial endowment is a transfer of money or property donated

to an institution, usually with the stipulation that it be invested,

and the principal remain intact in perpetuity or for a defined time

period. This allows for the donation to have a much greater impact

over a long period of time than if it were spent all at once.





University Funds

The purpose of this investment policy is to establish a distinct asset

mix for each of the University funds according to the individual

fund·s spending obligations, objectives, and liquidity

requirements.

Foundations or Charitable Trusts or Charitable Societies

who propose to invest on their own behalf

A charitable trust is a type of purpose trust in that it promotes a

purpose and does not primarily benefit specific individuals.

The purpose of the trust is to benefit society as a whole or a

sufficiently large section of the community so that it may be

considered public. Thus a charitable trust is a public purpose trust

and is enforceable by the Attorney General on behalf of the Crown

in England. However, in England it is normally the Charities

Commission, which oversees and regulates charities (and the

Office of the Scottish Charity Regulator in Scotland).

Generally speaking, charitable trusts are subject to the same rules

as private trusts, but as a result of the public nature of such bodies,

they enjoy a number of advantages over private trusts.





Asset Management Companies

Asset management may be defined as a comprehensive and

structured approach to the long term management of assets as

tools for the efficient and effective delivery of community benefits.

The emphasis is on the assets being a means to an end, not an end

in themselves." (Austroads 1997 Strategy for Improving asset

management practice, p4).

The World Road Association (PIARC) has adopted an OECD

definition of asset management, which in turn was derived from aFHWA definition, viz:

"A systematic process of effectively maintaining, upgrading and

operating assets, combining engineering principles with sound

business practice and economic rationale, and providing the tools

to facilitate a more organized and flexible approach to making

decisions necessary to achieve the public's expectations."

In the light of these broad definitions, road asset management

means managing a road network (roads, bridges, traffic facilities,

etc) to satisfy the requirements of business and private road users,

at the lowest possible cost over a long period of time.

Nominee Companies

Company formed by a bank or other fiduciary organization to

hold and administer securities or other assets as a custodian

(registered owner) on behalf of an actual owner (beneficial owner)

under a custodial agreement.





Trustees

Trustee is a legal term that refers to a holder of property on behalf

of a beneficiary. A trust can be set up either to benefit particular

persons, or for any charitable purposes (but not generally for non-

charitable purposes): typical examples are a will trust for the

testator's children and family, a pension trust (to confer benefits on

employees and their families), and a charitable trust. In all cases,

the trustee may be a person or company, whether or not they are a

prospective beneficiary.

Bank

A banker or bank is a financial institution whose primary activity

is to act as a payment agent for customers and to borrow and lend

money.

Many other financial activities were added over time. For examplebanks are important players in financial markets and offer

financial services such as investment funds. In some countries

such as Germany, banks are the primary owners of industrial

corporations while in other countries such as the United States

banks are prohibited from owning non-financial companies. In

Japan, banks are usually the nexus of cross share holding entity

known as zaibatsu. In France "Bancassurance" is highly present, as

most banks offer insurance services (and now real estate services)

to their clients.





THE ELIGIBILITY CRITERIA FOR

APPLICANT SEEKING FII

REGISTRATION

As per Regulation 6 of SEBI (FII) Regulations,1995, Foreign

Institutional Investors are required to fulfill the following

conditions to qualify for grant of registration:

y Applicant should have track record, professional competence,

financial soundness, experience, general reputation of fairnessand integrity;

y The applicant should be regulated by an appropriate foreign

regulatory authority in the same capacity/category where

registration is sought from SEBI. Registration with authorities,

which are responsible for incorporation, is not adequate to

qualify as Foreign Institutional Investor.

y The applicant is required to have the permission under the

provisions of the Foreign Exchange Management Act, 1999

from the Reserve Bank of India.

y Applicant must be legally permitted to invest in securities

outside the country or its in-corporation / establishment.

y The applicant must be a "fit and proper" person.

y The applicant has to appoint a local custodian and enter into an

agreement with the custodian. Besides it also has to appoint a

designated bank to route its transactions.

y Payment of registration fee of US $ 5,000.00





SOME RELATED TERM FOR FII

Act

"Act" means the Securities and Exchange Board of India Act, 1992

(15 of 1992).

Designated bank.

"Designated bank" means any bank in India, which has been

authorized by the Reserve Bank of India to act as a banker to

Foreign Institutional Investors.

Domestic custodian

"Domestic custodian" includes any person carrying on the activity

of providing custodial services in respect of securities.

Foreign institutional investor

"Foreign Institutional Investor" means an institution established or

incorporated outside India which proposes to make investment in

India in securities.

Sub-accounts

"Sub-account" includes those institutions, established orincorporated outside India and those funds, or portfolios,

established outside India, whether incorporated or not, on whose

behalf investments are proposed to be made in India by a Foreign

Institutional Investor.





Registration for fii

Investment condition and

restriction

Registration procedure

Registration form for fii

Some of registered fii





REGISTRATION OF FOREIGN

INSTITUTIONAL INVESTOR

Application for certificate.

y No person shall buy, sell or otherwise deal in securities as a

Foreign Institutional Investor unless he holds a certificate

granted by the Board under these regulations.

y An application for the grant of certificate shall be made to the

Board in form A.y Notwithstanding anything contained hereinabove,

any person who has before the commencement of

these regulations, made an application for

registration and has been granted registration by the

Board under the Government of India Guidelines to

act as a Foreign Institutional Investor shall be

deemed to have made an application under sub-

regulation (2) above may continue to buy, sell or

otherwise deal in securities subject to the provisions

of these regulations, till the grant or refusal of a

certificate under these regulations.









y For the purpose of this regulation, ´broad based fundµ means a

fund established or incorporated outside of India, which has at

least 20 investor with no single individual investor more than

10% of shares of unit of fund.

Procedure and grant of certificate

y Where an application is made for grant of certificate under

these regulations, the Board shall, as soon as possible but not

later than three months after information called for by it is

furnished, if satisfied that the application is complete in all

respects, all particulars sought have been furnished and the

applicant is found to be eligible for the grant of certificate, grant

a certificate in form B, subject to payment of fees in accordance

with the Second Schedule.

y Provided that the Board may exempt from the payment of fees,

an applicant such as the World Bank and other institutionsestablished outside India for providing aid, and which have

been granted privileges and immunities from the payment of

tax and duties by the Central Government.

y A foreign institutional investor holding a certificate shall, at all

times, abide by the Code of Conduct as specified in Third

Schedule.





Validity of certificate.

The certificate and each renewal thereof shall be valid for a period

of 3 years from the date of its grant or renewal, as the case may be

Application for renewal of certificate

y Three months before the expiry of the period of certificate, the

Foreign Institutional Investor, if he so desires, may make an

application for renewal in form A.

y Provided that a Foreign Institutional Investor who does not

desire to renew its registration or has failed to make an

application for renewal under sub-regulation (1), shall, at the

time of expiry of registration, obtain a specific permission from

the Board, for disinvesting the securities held by it on its own

account or on behalf of its sub-account(s), within a stipulated

time period, subject to such terms and conditions as may be

specified by the Board.

y Provided further that where a Foreign Institutional Investor

does not desire to renew registration of any of its sub-account(s)

or has failed to make an application for renewal of registration

of sub-account(s), the Foreign Institutional Investor shall at the

time of expiry of registration, obtain, a specific permission from

the Board, for disinvesting the securities held by it on behalf of

sub-account(s) within a stipulated time period, subject to such

terms and conditions as may be specified by the Board.

y The Board shall, on such application, if satisfied that the

applicant fulfils the requirements specified in regulation 6,





grant a certificate in Form B, subject to payment of fees in

accordance with the Second Schedule.

Conditions for grant or renewal of certificate to Foreign

Institutional Investors

y He shall abide by the provisions of these regulations.

y If any information or particulars previously submitted to the

Board are found to be false or misleading, in any material

respect, he shall forthwith inform the Board in writing.

y If there is any material change in the information previously

furnished by him to the Board, which has a bearing on the

certificate granted by the Board, he shall forthwith inform the

Board;

y He shall appoint a domestic custodian and before making any

investments in India, enter into an agreement with the domestic

custodian providing for custodial services in respect ofsecurities.

y He shall, before making any investments in India, enter into an

arrangement with a designated bank for the purpose of

operating a special non-resident rupee or foreign currency

account.

y Before making any investments in India on behalf of a sub-

account, if any, he shall obtain registration of such sub-account,

under these regulations.





Procedure where certificate is not granted

y Where an application for grant or renewal of a certificate does

not satisfy the requirements specified in regulation 6, the Board

may reject the application after giving the applicant a

reasonable opportunity of being heard.

y The decision to reject the application shall be communicated by

the Board to the applicant in writing stating therein the grounds

on which the application has been rejected.

y The Board shall, as soon as possible, in the light of the

submissions made in the application for reconsideration made

under sub-regulation (3) and after giving a reasonable

opportunity of being heard, convey its decision in writing to the

applicant.

Application for registration of sub-accounts

y A Foreign Institutional Investor shall seek from the Board

registration of each sub-account on whose behalf he proposes to

make investments in India.

y Notwithstanding anything contained in sub-regulation (1)

above, any sub-account which has been granted approval prior

to the commencement of these regulations by the Board shall be

deemed to have been granted registration as a sub-account by

the Board under these regulations.

y An application for registration as sub-account shall be made in

Form AA.





Procedure and grant of registration of sub-accounts

y For the purpose of grant of registration the Board shall take into

account all matters which are relevant to the grant of such

registration to the sub-account and in particular the following,

namely-

y The applicant is an institution or fund or portfolio established

or incorporated outside India and proposes to make investment

in India;

y Provided that a non-resident Indian or an overseas corporate

body registered with Reserve Bank of India shall not be eligible

to invest as sub-account or as foreign institutional investor

y the Foreign Institutional Investor through whom the

application for registration is made to the Board holds a

certificate of registration as Foreign Institutional Investor; and

y The Foreign Institutional Investor through whom an

application for registration of sub-account is made, is

authorised to invest on behalf of the sub-account.

y A sub-account granted registration in accordance with sub-

regulation (2) of this regulation shall be deemed to be registered

as a Foreign Institutional Investor with the Securities and

Exchange Board of India for the limited purpose of availing of

the benefits available to Foreign Institutional Investors under

section 115 AD of Income Tax Act,1961, (43 of 1961).





INVESTMENT CONDITIONS AND

RESTRICTIONS

y securities in the primary and secondary markets including

shares, debentures and warrants of companies listed or to be

listed on a recognized stock exchange in India; and of schemes

floated by domestic mutual funds including Unit Trust of India,

whether listed on a recognized stock exchange or not

Notwithstanding anything contained in sub-regulation (1) of this

regulation, the total investments in equity and equity related

instruments (including fully convertible debentures, convertible

portion of partially convertible debentures and tradable warrants)

made by a Foreign Institutional Investor in India, whether on his

own account or on account of his sub-accounts, shall not be less

than seventy per cent of the aggregate of all the investments of the

Foreign Institutional Investor in India, made on his own account

and on account of his sub-accounts.

y Provided further that the Board may while granting approval

for the investments imposes conditions as are necessary with

respect to the maximum amount which can be invested in debt

securities by the foreign institutional investor on its own

account or through its sub accounts.

y the Foreign Institutional Investor shall transact business only on

the basis of taking and giving deliveries of securities bought

and sold and shall not engage in short selling in securities;





y the transaction of business in securities shall be only through

stock brokers who has been granted a certificate by the Board

under sub section (1) of section 12 of the securities and

Exchange Board of India Act,1992;

y Provided further that in case of an offer by a company to buy-

back its securities, the foreign institutional investor, may sell the

securities held by it to such company, in accordance with the

Securities and Exchange Board of India (Buy-back of securities)

Regulations, 1998.

y a Foreign Institutional Investor or a sub-account, shall, subjectto such instructions as may be issued by the Board, deliver or

cause to be delivered only securities in dematerialised form for

settlement of its transactions undertaken on a recognized stock

exchange, except in cases where the issuer of such securities has

established connectivity with all depositaries registered with

the Board under Securities and Exchange Board of India

(Depositories and Participants) Regulations, 1996.]

y in the name of the Foreign Institutional Investor, provided the

Foreign Institutional Investor is making investments on his own

behalf; or

y The purchase of equity shares of each company by a Foreign

Institutional Investor investing on his own account shall not

exceed 10% percent of the total issued capital of that company.







REGISTRATION FORM OF FII

Form AA

Application Form for Grant of Certificate ofRegistration as

Sub²account (SA)

[See regulation 12(1)]

*Note: - (The new address is ´SECURITIES AND EXCHANGE

BOARD OF INDIA, Division of FIIs & Custodians, Plot No. C 4

A, ´Gµ Block, Bandra kurla Complex, Bandra (East), Mumbai-

400051.µ)

PART - I

(For the applicants under category ´broad-based fundµ and

´proprietary fund of the FIIµ)

1. Details of the applicant:

1.1 Name of the applicant:

1.2 Date of incorporation/establishment:

1.3 Legal form of the applicant and the law under which it is

incorporated, established or registered, if any:

1.4 Place of incorporation/establishment:

2. Category of the applicant

2.1 Please tick whether the applicant is:





Pension Fund Mutual Fund

Investment Trust Proprietary fund of the FII

any other, please specify

2.2 Please declare that the applicant is:

a broad-based fund proprietary fund of the FII

2.3 If the applicant is ´proprietary fundµ of the FII, whether

application is made for multi-managed structure

Yes No Not applicable

---------------------------------x---------------------------------

PART ² II

(For the applicants under the category ´foreign corporateµ and

´foreign individualµ)

1. Details of the applicant

1.1 Name of the applicant:

1.2 Citizenship of the applicant:

1.3 Present address of the individual/registered office address of

the foreign corporate:

Address

Country

Postal Code

Telephone no





Fax No

Web-site, if any

E-mail address,

if any

1.4 Constitution of the applicant (in case of ´foreign corporateµ):

2 Business/occupation of the applicant

Brief description of the business/job of the applicant:

---------------------------------x---------------------------------

PART ² III

(For the all the applicants)

3. Details of the taxation authority

3.1 Please provide following details of the authority where the

applicant is subject to taxation:

Name of the

authority

Address

Country

Postal Code

Telephone noFax No

Web-site, if any

E-mail address,

if any







b. no order suspending or debarring the applicant from

permanently carrying on activities in the financial sector has

been passed by any regulatory authority;

c. no order withdrawing or refusing to grant any

license/approval to the applicant which has a bearing on thesecurities market has been passed by any authority in the

preceding five years;

d. any penalty imposed (including monetary penalty) by any

regulatory authority has been undergone or paid.

B. Undertakings

(i) In case the client / sub-account is a broad based fund:

"We undertake that the proprietary funds of name of the FII (give

name of the Foreign Institutional Investor) shall not be invested

through _______ (give name of the applicant)."

OR

(ii) In case the client / sub-account is a proprietary fund of the

Foreign Institutional Investor:

"We undertake that only the proprietary funds of the name of the

F II shall be invested through _______ (give name of the

applicant)."

C. Further declaration and undertaking:

1. We further declare that:

(i) the Foreign Institutional Investor through whom anapplication for registration of sub-account is made is

authorized to invest on behalf of the sub-account;

(ii) the income of the applicant is from known and legitimate

sources;





(iii) the applicant is not a non-resident Indian or an overseas

body corporate.

2. We hereby agree and declare that the information provided and

the undertakings given above are complete and true.

3. And we further undertake that we will immediately notify the

Securities and Exchange Board of India and the Reserve Bank of

India of any change in the information provided.

For and on behalf of ( N ame of the applicant)

Signature

Name of

signatory

Position

Date dd/mm/yyyy

For and on behalf of

Name of the FII

Regn No.

Signature

Name of

signatory

Position

Date dd/mm/yyyy

Note:

1. Securities and Exchange Board of India (SEBI) and Reserve Bank

of India (RBI) reserve the right to call for any further information

from the applicant regarding his application.





2. Applications along with necessary documents should be

submitted at *´SECURITIES AND EXCHANGE BOARD OF

INDIA, Division of FIIs & Custodians, Mittal Court ¶B· Wing, 1st

Floor, Nariman Point, Mumbai-400021, INDIA.µ







SOME OF THE REGISTERED FII

In 2007 registered FII was 1219 and in 2008 it was 1595.

In 2007 registered sub account was 3644 and in 2008 it was 4872.

No FII name Country

1 AIM ADVISOR INC. USA

2 AAM ALPHA FUNDS PLC Ireland

3 ABAX GLOBAL CAPITAL LTD. Hong Kong

4 ABERDEEN ASIA PACIFIC INCOME FUND USA

5 ABERDEEN ASIA PACIFIC INCOME INVESTMENT

COMPANY LTD.

Cook Island

6 ABERDEEN ASSET MANAGEMENT ASIA LTD. Singapore

7 ABERDEEN ASSET MANAGERS LTD. Great Britain

8 ABERDEEN GLOBAL INCOME FUND USA

9 ABM AMRO ASIA LTD. Hong Kong

10 ABM AMRO PACIFIC PTE LTD. Singapore

11 ABM AMRO BANK N.V. COPENHAGEN BRANCH Denmark

12 ABM AMRO BANK N.V. LONDON BRANCH Great Britain

13 ABM AMRO INVESTMENT FUNDS Luxembourg

14 ABM AMRO INVESTMENT MANAGEMENT FUND Netherland

15 ABM AMRO MULTI MANAGER FUND Luxembourg

16 ABSOLUTE ASIA ASSET MANAGEMENT LTD. Singapore

17 ABU DHABI INVESTMENT AUTHORITY United Arab

Emirates

18 ABU DHABI INVESTMENT COUNCIL United Arab

Emirates

19 ACTIVEST INVESTMENT GESSELLSCHAFT Luxembourg





20 ACUMEN CAPITAL MANAGEMENT LLC USA

21 ADI, ALTERNATIVE INVESTMENT France

22 ADVANCE ASSET MANAGEMENT LTD. Australia

23 ADVANTAGE ADVISORS USA

24 AEGON/TRANSAMERICA SERIES TRUST USA

25 AEGON CUSTODY Netherland

26 AEGON CUSTODY B.V. EMERGING Netherland

27 AGF ASSET MANAGEMENT GROUP Canada

28 AGF FUNDS INC. Canada

29 AIG CAPITAL RECOVERY (MAURITIUS) LTD Mauritius

30 AIG GLOBAL FUNDS Ireland

31 AIC INVESTMENT SERVICES INC. Canada

32 AIG GLOBAL INVESTMENT CORP. USA

33 AIG GLOBAL INVESTMENT CORPORATION (ASIA)

LTD.

Hongkong

34 AIG GLOBAL INVESTMENT CORPORATION LTD. Singapore

35 AIG INVESTMENTS MANAGEMENT

CORPORATION LTD.

Taiwan

36 AIG SUNAMERICA ASSET MANAGEMENT CORP. USA

37 AIM FUNDS MANAGEMENT INC. Canada

38 AL AHLIA INSURANCE CO SAOC Oman

39 AL MAL CAPITAL P.S.C. United Arab

Emirates

40 ALAMEDA COUNTY EMPLOYEES RETIREMENT

ASSO.

USA

41 ALASKA PERMANENT FUND USA

42 ALCOA OF AUSTRALIA RETIREMENT PLAN PTY

LTD AS TRUSTEE FOR ALCOA OF AUSTRALIA

RETIREMENT PLAN

Australia

43 ALDEN GLOBAL (MAURITIUS) LTD. Mauritius

44 ALETTI GESTIELLE SOCIETA DI GESTIONE DEL

RISPARMIO S.P.A.

Italy

45 ALEXANDRA INVESTMENT MANAGEMENT, LLC USA

46 ALFRED I.DUPONT TESTAMENTARY TRUST USA

47 ALGEBRIS INVESTMENTS (UK) LLP United

Kingdom

48 ALLAMANDA INVESTMENTS PTE LTD. Mauritius





49 ALLARD PARTNERS LIMITED Hongkong

50 ALLEN INVESTMENT MANAGEMENT LLC USA

51 ALLIANCE COLLECTIVE INVESTMENT TRUST

SERIES

USA

52 ALLIANCEBERNSTEIN L.P USA

53 ALLIANT TECHSYSTEMS INC. DEFINED BENEFIT

MASTER TRUST

USA

54 ALLIANZ FUNDS USA

55 ALLIANZ GLOBAL INVESTORS HONG KONG

LIMITED

Hongkong

56 ALLIANZ GLOBAL INVESTORS KOREA LIMITED South Korea

57 ALLIANZ GLOBAL INVESTORS LUXEMBOURG S.A. Luxembourg

58 ALLIANZ GLOBAL INVESTORS SINGAPORE

LIMITED

Singapore

59 ALLIANZ GLOBAL INVESTORS TAIWAN LTD. Taiwan

60 ALLIANZ HOLLAND PARAPLUFONDS N.V. Netherland

61 ALLIANZ HOLLAND PARAPLUFONDS N.V. Great Britain

62 ALLIANZ RCM GLOBAL ECOTRENDS FUND USA

63 ALPINE DYNAMIC DIVIDEND FUND USA

64 ALPINE WOODS CAPITAL INVESTORS, LLC USA

65 ALPINEX FINANCIAL SERVICES (CYPRUS) LIMITED Cyprus

66 ALTAMIRA GLOBAL DISCOVERY FUND Canada

67 ALTIMA PARTNERS LLP United

Kingdom

68 ALTRIA CORPORATE SERVICES MASTER RETIREMENT

TRUST

USA

69 AMAGERBANKEN AKTIESELSKAB Denmark

70 AMAM LIMITED Great Britain

71 AMANSA CAPITAL PTE LIMITED Singapore

72 AMCAP FUND, INC. USA

73 AMERICAN AIRLINES INC , PILOTS RETIREMENT

BENEFIT PROGRAM VARIABLE INCOME PLAN

USA

74 AMERICAN AIRLINES INC., MASTER FIXED BENEFITPENSION TRUST

USA

75 AMERICAN BEACON EMERGING MARKETS FUND USA

76 AMERICAN CENTURY GLOBAL USA

77 AMERICAN EXPRESS FUNDS Luxembourg

78 AMERICAN FUNDS INSURANCE SERIES USA

79 AMOEBA CAPITAL PARTNERS PTE. LTD. Singapore





80

81

ARTIO GLOBAL INVESTMENT FUNDS

ARTISAN FUNDS, INC.

USA

USA

82 AMP CAPITAL INVESTORS LIMITED AS

RESPONSIBLE ENTITY FOR THE FUTURE

DIRECTIONS ASIA EX-JAPAN FUND

Australia

83 AMP CAPITAL INVESTORS LIMITED AS

RESPONSIBLE ENTITY FOR THE FUTURE

DIRECTIONS CORE INTERNATIONAL SHARE

FUND 2

Australia

84 ANDOR CAPITAL MANAGEMENT LLC USA

85 AMOEBA CAPITAL PARTNERS PTE. LTD. Singapore

86 ANIMA S.G.R.P.A Italy

87 ANLAGESTIFTUNG DER MIGROS-PENSIONSKASSE Switzerland

88 ANTARA ASSET MANAGEMENT COMPANYLIMITED

Mauritius

89 APAX PARTNERS EUROPE MANAGERS LIMTED United

Kingdom

90 APERTA SICAV Luxembourg

91 APOLLO CAPITAL MANAGEMENT, L.P. USA

92 APS GROWTH FUND Ireland

93 AQR CAPITAL MANAGEMENT, LLC USA

94 ARANDA INVESTMENTS (MAURITIUS) PTE LTD. Mauritius

95 ARANDA INVESTMENTS PTE. LTD. Singapore96 ARC STONE CAPITAL, LLC USA

97 ARCA SGR SPA Italy

98 ARGONAUT MANAGEMENT LP USA

99 ARGYLE STREET MANAGEMENT LIMITED British virgin

island

100 ARISAIG PARTNERS (ASIA) PTE LTD. USA

101 ARKANSAS TEACHER RETIREMENT Singapore

102 ARLINGTON GROUP ASSET MANAGEMENT

LIMITED

Great Britain

103 ARNHOLD AND S BLIECHROEDER ADVISORS INC.

DIVERSIFIED

USA

104 ARNHOLD AND S. BLEICHROEDER ADVISERS,

LLC

New York

105 ARNOTT CAPITAL PTY LTD Australia

106 AROHI ASSET MANAGEMENT PTE. LTD Singapore





107 ARROWGRASS CAPITAL PARTNERS LLP United

kingdom

108 ARTHA CAPITAL MANAGEMENT, INC. USA

111 ASCENSION HEALTH USA

112 ASHBURTON (JERSEY) LIMITED Channel

Island

113 ASHMORE INVESTMENT MANAGEMENT United

kingdom

114 ASIA DEBT MANAGEMENT HONG KONG

LIMITED

Hong Kong

115 ASIAN CENTURY QUEST CAPITAL, LLC USA

116 ASIAN FINANCE AND INVESTMENT

CORPORATION LTD.

Singapore

117 ASSICURAZIONI GENERALI S.P.A Italy

118 AST INVESTMENT SERVICES, INC USA119 AST TRUST COMPANY COLLECTIVE INVESTMENT

TRUST

USA

120 ATHENA CAPITAL PARTNERS LLP United

Kingdom

121 ATLANTIS INVESTMENT MANAGEMENT LIMITED Ireland

122 ATP INVEST I Denmark

123 ATTICUS UK LLP United

Kingdom

124 ATYANT CAPITAL MANAGEMENT LIMITED Mauritius125 AUSTRALIAN RETIREMENT FUND PTY LIMITED Australia

126 AVATAR INVESTMENT MANAGEMENT LIMITED Mauritius

127 AVENUE ASIA CAPITAL MANAGEMENT, L.P USA

128 AVIVA GESTION D'ACTIFS France

129 AVIVA MORLEY Luxembourg

130 AXA FRAMLINGTON UNIT MANAGEMENT

LIMITED

United

Kingdom

131 AXA FUND MANAGERS LIMITED United

Kingdom

132 AXA PREMIER VIP TRUST USA

133 AXA ROSENBERG INVESTMENT MANAGEMENT

ASIA PACIFIC LIMITED

Hong Kong

134 AXA ROSENBERG INVESTMENT MANAGEMENT

ASIA PACIFIC LTD.

Singapore

135 AXA WORLD FUNDS Luxembourg









Sensex v/s FII of last 3 year

2008

Month Sensex Net FII purchase(Cr)

Jan 17649 -17326.3Feb 17649 5419.9

Mar 15644 124.4

Apr 17287 979

May 16415 -4917.3

Jun 13461 -10577.9

Jul 14356 -1012.9

Aug 14565 -2065.8Sep 12860 -7937

Oct 9788 -14248.6

Nov 9093 -2820.3

Dec 9647 1333.9

-20000

-15000

-10000

-5000

0

5000

10000

15000

20000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct NovDec

Sensex

Net FII purchSE





Sensex v/s FII of last 10 year

Year Sensex(avg.) Net FII purchase(Cr-avg.)Year-'99 4180.23 448.87

Year-'00 4501.85 578.95

Year-'01 3475.92 1107.892

Year-'02 3230.58 302.26

Year-'03 3967.64 2496.1

Year-'04 5551.16 3224.03

Year-'05 7498.37 3818.85Year-'06 11663.58 2606.75

Year-'07 15901.44 5911.67

Year-'08 14028.76 -4420.975

-10000

-5000

0

5000

10000

15000

20000

Sensex(avg.)

Net FII purchase(Cr-

avg.)





Co-relation co-efficient of last 10 year

YearSensex(X)

Net FIIPur.(Y) X2 Y2 XY

1999 4180.23 448.87 17474322.85 201484.2769 1876379.84

2000 4501.85 578.95 20266653.42 335183.1025 2606346.058

2001 3475.92 1107.892 12082019.85 1227424.684 3850943.961

2002 3230.58 302.26 10436647.14 91361.1076 976475.1108

2003 3967.64 2496.1 15742167.17 6230515.21 9903626.204

2004 5551.16 3224.03 30815377.35 10394369.44 17897106.37

2005 7498.37 3818.85 56225552.66 14583615.32 28635150.272006 11663.58 2606.75 136039098.4 6795145.563 30404037.17

2007 15901.44 5911.67 252855794.1 34947842.19 94004065.8

2008 14028.76 -4420.975 196806107.1 19545019.95 -62020797.24

Total 73999.53 16074.397 748743740.1 94351960.85 128133333.6



FII flows & impact on stock market Hiren Lathi a

Co-relation co-efficient (r) = n ² ( x) ( Y)

n x2- ( x)2 n y2- ( y)2

= 10*128133333.6 ² (73999.83) (16074.39)

10*748743740.1-5475974840.02 10*94351960.8² 258386238.13

= 91831208.65

2011462560.98 685133369.87

= 91831208.65

(44849.33) (26175.05)

= 91831208.65

1173933455.22

r = 0.078

Documents

FII- Foreign Institutional Investor