FIIs Sell Indian Stocks 48,213 Cr in April as Market Holds Gains
FIIs Sell Indian Stocks 48,213 Cr in April as Market Holds Gains
Foreign investors dumped Rs 48,213 crore in April, while domestic buyers kept markets buoyant ahead of key US-Iran peace talks that could sway crude prices.
Foreign institutional investors continued their heavy exit from Indian equities, offloading Rs 48,213 crore in April so far, extending a selling trend that has pushed this fiscal year's outflows to Rs 1.79 lakh crore. Despite the pull from FPIs, local participants kept the mood upbeat on the last trading day of the week as domestic institutional investors bought Rs 410.05 crore, helping the market close higher. The Nifty rose 275.50 points, or 1.16%, to 24,050.60, while the Sensex gained 918.60 points, or 1.20%, to 77,550.25. Banks, auto and consumer stocks led the advance.
Analysts say the market is still trying to identify a direction as global cues remain volatile. The guidance from the upcoming US-Iran peace talks, scheduled for the weekend, could significantly influence crude prices—an important driver for an energy-importing nation like India. If the talks yield de-escalation and crude prices ease, Indian markets could see a relief rally. If not, volatility could persist and widen the underperformance of FIIs relative to domestic buyers.
Geojit strategist Dr. VK Vijayakumar noted that the FPI selling appears selective and may represent a short-term repositioning, with several stocks continuing to hit 52-week highs in this challenging environment. He stressed that the market's resilience stems from strong domestic participation, even as foreign investors migrate to other markets with higher growth narratives.
