Details of investment upto April 1999 by Foreign Institutional Investors registered with the SEBI and granted approval under FERA by the Reserve Bank of India are presented in Table below. In April1999, the net investment of FIIs was at US $ 224.6million reflecting a higher net capital inflow than the positive inflows of US $ 59.5 million in March 1999. The analysis of month to month movement of FIIs investment reveals that between April 1998 and November 1998, net investment flows kept on declining and there was total outflow of FIIs investment of the order of US $ 658.9 million. The size of outflow however, decreased during the months of December 1998 to March 1999.

Chart 9: FII Investments During April-March 1998-99
 

	Gross Purchases  (Rs. in Cr.)	Gross Sales (Rs. in Cr.)	Net Investment (Rs. in Cr.)	Net Investment  US$ M at  monthly ex rate	Cumulative Net  Investment US$ m  at monthly ex rate
GT for 1993	2661.9	66.8	2595.1	827.2	827.2
GT for 1994	9267.2	2476.1	6791.2	2164.8	2991.9
GT for 1995	6665.9	2812.2	3853.8	1191.4	4183.4
GT for 1996	15739.2	4935.6	10803.6	3058.2	7241.6
GT for 1997	18926.5	12719.2	6207.3	1746.7	8988.2
J 98	772.9	1077.2	(304.3)	(77.3)	8911.0
F 98	1494.1	754.5	739.6	190.2	9101.2
M 98	1655.2	931.7	723.5	183.2	9284.3
A 98	1294.0	1392.4	(98.4)	(24.8)	9259.5
M 98	845.9	1729.7	(883.7)	(218.4)	9041.2
J 98	802.3	1638.7	(836.4)	(198.0)	8843.2
JL 98	1309.8	1226.1	83.7	19.7	8862.9
A 98	813.6	1270.6	(457.0)	(106.9)	8756.0
S 98	1453.4	1312.0	141.3	33.2	8789.2
O 98	1073.7	1672.2	(598.4)	(141.4)	8647.9
N 98	1039.1	1239.0	(199.9)	(47.2)	8600.6
D 98	1345.8	1135.8	210.0	49.5	8650.2
GT for 1998	13899.8	15379.7	(1479.9)	(338.0)	8650.0
J 99	1642.3	1189.4	452.9	106.4	8756.5
F 99	1647.8	1323.2	324.5	76.3	8832.9
M 99	2781.2	2528.4	252.8	59.5	8892.5
A 99	2519.3	1565.8	953.5	224.6	9122.8