According data from National Securities Depository Limited (NSDL) and Securities and Exchange Board of India (Sebi), foreign institutional investors (FIIs) have put in Rs 18,437 crore ($2.74 billion) thus far in the Indian market during the current month (till March 23, 2016).(FII) inflow in the Indian market so far this month is the highest single-month investment since May 2013. As per provisional stock exchange data, they invested another Rs 2,043 crore in equities on Monday (March 28),taking their total net investments to Rs 20,480 crore thus far in the current month with three trading days still left. The benchmark indices - the S&P BSE Sensex and the Nifty 50 - have surged nearly 10% in this backdrop. This is sharp contrast to the first two months of calendar year (2016) when they had sold an aggregate Rs 19,752 (Rs 11,471 crore in January and Rs 8,281 crore in February) in Indian equities. As a result, the benchmark indices had plunged 12% during this period. The up move also comes on the back of a hope that the Reserve Bank of India (RBI) will cut key rates in the next Monetary Policy review scheduled for April 5 given that the Union Budget for 2016 - 17 stuck to the earlier set fiscal deficit target of 3.5 per cent of gross domestic product (GDP) for FY17. Analysts believe that the India will continue to attract FII flows over the long term, as economic fundamentals remain stronger than other emerging market (EM) economies. That apart, clarity on the path that the US Fed is likely to follow should keep the current momentum in the equity markets strong, they say.