FIIs Turn Net Buyers, DIIs Book Profits

A reversal in the roles was witnessed last week as foreign institutional investors (FIIs) turned net buyers—the first time in 13 weeks—while domestic institutional investors (DIIs) decided to book some profits in the last two trading sessions.

- ANANYA GROVER

Net buying by FIIs for the week ended March 21 stood at ₹6,623.69 crore or $773.16 million while DIIs were also net buyers at ₹4,337.83 crore. However, domestic investors sold equities worth ₹6,338.28 crore in the last two sessions. The last time FIIs were net buyers was for the week ended December 13, when they had bought shares worth ₹2,034 crore.

While much of this was due to the US Federal Reserve indicating two more rate cuts this year, passive fund flows just ahead of the FTSE index rebalancing also contributed to this. Nuvama has estimated that domestic equities may receive net inflows in the range of $1.2 billion to $1.4 billion following changes to FTSE's gauges.