FPIs Reverse 38-Day Selloff, Record Second Highest Single-Day Buying So Far In 2024 Of Rs 9,947.55 Crore

Overseas investors turned net buyers of Indian equities after selling for 38 consecutive sessions on Monday, the second largest buying from foreign portfolio investors so far this year. While domestic institutional investors turned net sellers after being net buyers for 13 straight sessions.

FPIs recorded the highest single-day buying so far this year on Sept. 20, when they bought Rs 14,064 crore.

Foreign portfolio investors net bought stocks worth Rs 9,947.55 crore, according to provisional data shared by the National Stock Exchange. The DIIs were net sellers of shares worth Rs 6,907.97 crore.

In the last five sessions, the FPIs have sold equities worth Rs 1,466.63 crore, while the DIIs purchased shares worth Rs 4,128.79 crore.

The FPIs have offloaded stocks worth Rs 30,999.80 crore so far in November, while the DIIs mopped up stocks worth Rs 30,651.11 crore.

In October, the FPIs sold stocks worth Rs 1.14 lakh crore, while the DIIs mopped up stocks worth Rs 1.07 lakh crore. In September, the FPIs had bought stocks valued at Rs 15,423.4 crore, while the DIIs purchased stocks worth Rs 31,860.3 crore.

Foreign institutions have been net sellers of Rs 18,867 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.

The benchmark equity indices in India added nearly 4% in two consecutive sessions of gains to recoup their losses on a month-on-month basis. Both the NSE Nifty 50 and the BSE Sensex recorded on Monday the highest closing since Nov. 6.

Globally, the sentiment was uplifted after President-elect Donald Trump hinted at his intention to nominate Key Square Group founder Scott Bessent as the US Treasury secretary. The market also assessed brokerages' positive commentary after the National Democratic Alliance's win in the Maharashtra assembly elections.

The Nifty closed 314.65 points or 1.32% up at 24,221.90, while the Sensex ended 992.74 points or 1.25% higher at 80,109.85. During the day, both the Nifty and the Sensex rose nearly 2% to hit their highest levels since Nov. 7.