Foreign Institutional Investors continued their buying streak for the fourth straight session on Monday. FIIs were net buyers to the tune of Rs 321 crore in the cash markets today, provisional data from exchanges showed. The Sensex and Nifty ended with gains, thanks to the last hour buying in banking and other stocks. The Sensex ended the session higher by 114 points at 59,106, while the Nifty-50 ended slightly below the 17,400 levels. Nifty Bank surged over 200 points in the last hour of trade, led by gains in Bandhan Bank, PNB, and IndusInd Bank.
In March, FIIs remained net buyers of Indian stocks to the tune of Rs 1,997 crore, data showed. Flows from DIIs however turned negative on Monday as they net sold shares worth Rs 328 crore, provisional data from exchanges showed. In March, DIIs were net buyers of shares worth Rs 30,548 crore.
The RBI Monetary Policy event remains a key event to watch out for investors this week, said experts. Furthermore, the earnings season kickstarting on April 13 will also bring some direction in the markets. “RBI’s policy announcement would be the key event to watch out this week where in investors would gauge for indication with regards to rate hike pause. This along with shortened trading week would keep the market range-bound,” said Siddhartha Khemka of Motilal Oswal Financial Services.
