FII turn net buyers after one month, acquire shares worth Rs 1,463 crore; DIIs purchase shares worth Rs 2,028 crore

The Nifty and Sensex extended gains to the second session, closing at an over one-month high.

Foreign institutional investors (FII/FPI) turned net buyers after a month of relentless selling on March 18, buying shares worth Rs 1,462.96 crore while domestic institutional investors (DII) remained net buyers of shares worth Rs 2,028.15 crore, provisional data showed.

During the trading session of March 18, FIIs net bought shares worth Rs 15,450.39 crore and sold shares worth Rs 13,987.43 crore. DIIs purchased shares worth Rs 11,686.27 crore and sold shares worth Rs 9,658.12 crore.

For the year so far, FIIs have been net sellers of shares worth Rs 1.67 lakh crore, while DIIs have net bought Rs 1.85 lakh crore worth of shares.

Benchmark indices Nifty and Sensex surged to an over one-month high on 18 March, posting their biggest single-day rally in over a month amid a buying spree across Dalal Street. Auto, banking, and metal stocks fuelled the rally, extending the market’s winning streak for a second session.

The Sensex jumped 1,131 points or 1.53 percent to 75,301, while the Nifty climbed 325 points or 1.45 percent to 22,834. Intraday, both indices briefly surpassed the 21-day EMA, a key resistance level that had previously capped gains.

Investor sentiment remained positive, supported by improving global market conditions and growing optimism over a potential truce between Russia and Ukraine, as the US and Russian presidents are set to meet on Tuesday. Additionally, India’s better-than-expected trade deficit, China’s consumption boost, and value buying at key support levels further strengthened market confidence.

Investors now await the Federal Reserve’s FOMC meeting, where rates are expected to hold at 4.25–4.5 percent, alongside updated economic projections on Wednesday.

On the technical front, Vishnu Kant Upadhyay, AVP - Research & Advisory, Master Capital Services expects the Nifty 50 to extend gains toward 23,000–23,100, with a decisive breakout above this zone potentially pushing the index toward 23,500–23,800.

On the downside, Kant sees 22,350–22,300 as an immediate support zone, providing a strong cushion against pullbacks. The Nifty 50, after its longest five-month losing streak in 29 years, has gained 3.2 percent in March, trimming its overall losses from 16.4 percent to 13.1 percent.

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