Continuing with their bullish stance on India for the second month, domestic institutional investors (DIIs) pumped in more than Rs 4,500 crore in equity markets in May.
With this, total fund mobilisation by DIIs - mainly mutual funds and insurance companies - has reached to Rs 14,850 crore (USD 2.3 billion) this year so far.
"Besides FPIs, DIIs have also been major contributors to the Indian equity markets. This is a positive trend as it reduces the market's dependence on FPI investments and cushions Indian markets from FPI activity.
