FIIs poured in $8 billion in November

Foreign institutional investors (FIIs) heavily invested in Indian equity market worth more than $8 billion in November and about 50 percent of it went to banking stocks followed by FMCG, pharma, and auto sector, Edelweiss Securities said in a report. The low-interest rate environment, globally, and risk-on trade are driving capital flows into EMs, including India. The recent adjustment in the MSCI Index has also aided the sentiment.