Foreign investment in Indian equities has crossed $3 billion since January, with $2 billion coming in just the last five trading sessions. Data from the Securities and Exchange Board of India shows $3.15 billion has flowed into the market between January 1st and May 21st. The heaviest buying happened on May 20th, when foreign institutional investors purchased $1.06 billion, and May 14th with $828 million invested. However, an equity head from SMC Capitals noted that while foreign confidence may be returning, absorption capacity is a concern as relatively small investments are resulting in large market rallies.