Five leading institutional brokers Credit Lyonnais,
UBS Securities, JM Morgan Stanley, JP Morgan India and
HSBC Securities have together cornered Rs 9,390.80
crore business of the total Rs 15,768-crore net foreign
institutional investments in India during the current
to a Securities and Exchange Board of India (SEBI) report
to the finance ministry, the foreign institutional investors
(FIIs) have routed around 60 per cent of their investment
through these five institutional brokers while the next
five brokers got around 11.0 per cent of the FIIs' net
investment in the country in the current fiscal (up to
13 October 2003).
SEBI report shows that Credit Lyonnais handled the most
FII business amounting to Rs 3,253.6 crore (around 2.06
per cent) of the Rs 15,768-crore net FII investments during
the period. Credit Lyonnais is followed by UBS Securities,
which handled Rs 1,976 crore business, while JM Morgan
Stanley Securities got Rs 1,950.4 crore FII business.
JP Morgan India received Rs 1,436.2 crore while HSBC Securities
got Rs 774.6-crore business.
domestic brokerage houses, Enam Securities got Rs 532.7
crore of the FIIs' business followed by Motilal Oswal
Securities, which managed a business of Rs 448.8 crore
and Refco Sify Securities got Rs 199-crore business.
the current fiscal the FIIs have pumped in $6 billion
into the Indian stock markets. The Bombay Stock Exchange
Sensex has added 1,922.68 points (nearly 57 per cent)
till date in the current year, to close at 5299.96 on
Thursday. This performance makes it one of the best performing
indices in the world.
May and October 2003, the US-based Fidelity Management
made the largest net investments of Rs 1,822.60 crore,
followed by Janus Investment (Rs 1,389 crore), Morgan
Stanley (1,138 crore), the Singapore government (Rs 1,123
crore), HSBC Global (Rs 934 crore) and Credit Lyonnais
(Rs 893 crore).
FIIs active in the Indian markets include UBS Securities,
Putnam Fiduciary, Grantham Mayo, Van and Citigroup Global
Markets. Interestingly, a lot of new FIIs have also invested
in the Indian markets and this list includes Platinum
Asset Management and Aberdeen Asset Managers.