Foreign Institutional Investors (FIIs) extended their buying streak in Indian equities for the third consecutive session on March 24, marking their first such consistent buying spell since December 2024. According to provisional data, FIIs were net buyers to the tune of ₹3,055.76 crore on Monday, continuing their bullish momentum from the previous two sessions where they had pumped in ₹7,470 crore on March 21 and ₹3,239 crore on March 20, respectively.
Domestic Institutional Investors (DIIs), meanwhile, also turned net buyers on Monday with a modest ₹98.54 crore in purchases. The market witnessed robust activity with a total cash volume of ₹1.14 lakh crore across NSE and BSE combined, while F&O turnover stood at a staggering ₹28.1 lakh crore.
This renewed FII interest comes on the back of a broader recovery in Indian equities witnessed over the past week. The Nifty and Sensex bounced back sharply after undergoing profit-booking-led corrections earlier in March. Improved global cues, stabilizing U.S. yields, and anticipation of policy support.
Notably, the last time FIIs bought for three consecutive sessions was in December 2024. The recent uptrend marks a sentiment shift amid renewed optimism over earnings resilience and attractive valuations in select large-cap and banking stocks.
With India’s macroeconomic fundamentals remaining robust and volatility cooling off, market participants will closely watch if FII inflows sustain ahead of the March derivatives expiry and the upcoming RBI policy in April.
Osho Krishnan of Angel One said, “The Indian markets began the new week on a positive note, drawing inspiration from developments in GIFT Nifty and a notable shift in market sentiments. After a gap-up opening, the bulls took charge and sustained their buying momentum, which led the benchmark index to surge into the 23700 zone. Ultimately, the Nifty50 index maintained its upward trend for the sixth consecutive session and closed above 23650, securing a gain of 1.32 percent.”
