Foreign institutional investors (FII/FPI) continued their buying streak for the third straight session on March 24, purchasing shares worth Rs 3,055.76 crore while domestic institutional investors (DII) were purchased shares worth Rs 98.54 crore, provisional data showed.
During the trading session of March 24, FIIs net bought shares worth Rs 15,777.73 crore and sold shares worth Rs 12,721.97 crore. DIIs purchased shares worth Rs 12,879.29 crore and sold shares worth Rs 12,780.75 crore.
For the year so far, FIIs have been net sellers of shares worth Rs 1.55 lakh crore, while DIIs have net bought Rs 1.82 lakh crore worth of shares.
As for the trade today, Indian equity markets surged for the sixth consecutive session, with benchmark indices Sensex and Nifty 50 posting strong gains. A broad-based rally, led by heavyweight banking and information technology stocks, propelled both indices to reclaim one-month highs.
The Nifty 50 decisively crossed the key psychological resistance of 23,500, while the Sensex jumped over 1,100 points. This rally not only pulled the Nifty 50 out of its correction phase but also turned it positive for the year. Meanwhile, the Sensex remains marginally in the red year-to-date but has exited its correction territory.
A market is considered to be in a correction when it declines 10 percent from its peak. After this six-day rebound, both indices are now down less than 10 percent from their record highs.
At close, the Sensex surged 1,131.93 points or 1.47 percent to 78,037.44, while the Nifty gained 328.25 points or 1.41 percent to 23,678.65. Market breadth remained strong, with 2,389 stocks advancing, 1,582 declining, and 155 remaining unchanged.
Despite the gains, volatility was high, as reflected in the India VIX index, which surged 9 percent to around 14.
Multiple factors have fueled the market’s recovery, including upbeat global cues, a stronger rupee, easing valuations, and renewed foreign institutional investor (FII) interest. FIIs have turned net buyers in four of the past five sessions, following a month of relentless selling.
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