Foreign institutional investors (FIIs) have poured in $1.56 billion (Rs 9,600 crore) in the stock market so far this month, mainly on the hopes of a stable government in general elections starting next month.

FIIs bought shares worth Rs 59,296 crore and sold for Rs 49,699 crore till March 21, resulting in net inflow of Rs 9,597 crore ($ 1.56 billion), according to Sebi data. FIIs also infused Rs 12,816 crore ($2 billion) in the debt market during the period. They have purchased net Rs 11,716 crore worth of stocks so far in 2014. They had invested a net Rs 1,404 crore in equities in February, and Rs 714 crore in stocks in January.