FII net sell shares worth Rs 1,097 crore, DIIs net buyers of Rs 2,141 crore

For the year so far, FIIs have been net sellers of shares worth Rs 1.68 lakh crore.

Foreign institutional investors (FII/FPI) were net sellers on March 19, resuming their selling after being net buyers after a month in the last session. FIIs offloaded shares worth Rs 1,096.50 crore while domestic institutional investors (DII) were net buyers of shares worth Rs 2,140.76 crore, provisional data showed.

During the trading session of March 19, FIIs net bought shares worth Rs 15,718.73 crore and sold shares worth Rs 16,815.23 crore. DIIs purchased shares worth Rs 13,300.08 crore and sold shares worth Rs 11,159.32 crore.

For the year so far, FIIs have been net sellers of shares worth Rs 1.68 lakh crore, while DIIs have net bought Rs 1.88 lakh crore worth of shares.

Indian markets gained momentum in the afternoon session on 19 March, driven by strong buying in banking, oil & gas, and metal stocks. However, weakness in FMCG and IT sectors tempered the rally, preventing a full-fledged bullish surge.

Midcap and smallcap stocks outperformed, with the Midcap 100 and Smallcap 100 indices surging 2.6 percent and 2.43 percent, respectively, extending their recent winning streak.

By the closing bell, the Sensex climbed 147.79 points or 0.20 percent to 75,449.05, while the Nifty gained 73.30 points or 0.32 percent to 22,907.60. Market breadth remained positive, with 2,897 stocks advancing, 989 declining, and 110 remaining unchanged.

Looking ahead, Sameet Chavan of Angel One expects Nifty to retest the psychological 23,000 mark, which aligns with the 50 DEMA and the dynamic trendline resistance connecting major peaks from all-time highs.

While this level appears within reach, this technical parameter has previously acted as a strong hurdle, and a breakout beyond it could drive an extended move towards the 200 DSMA at 23,400 and beyond, Chavan noted.

On the downside, he highlighted that the previous resistance zone of 22,650 to 22,700 can now act as immediate support. While the overall outlook remains positive, traders should remain cautious ahead of the upcoming Fed policy announcement, which could introduce fresh volatility.

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