FIIs On Buying Spree: Pour ₹29K Cr in 1-Week in Indian Equities

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Bulls Continue to Stampede through Dalal Street amid Furious FII buying

By S Jha

New Delhi, April 24, 2025: In an electrifying comeback, Foreign Institutional Investors (FIIs) have made aggressive inroads into Indian equities, pouring in nearly ₹29,000 crore in just over a week. The Nifty index surged by over 2,500 points amid hectic FII-led buying.

The FII buying has infused a strong bullish sentiment in domestic markets. From April 15 to April 24, FIIs clocked relentless buying: April 15: ₹6,066 Cr; April 16: ₹3,936 Cr; April 17: ₹4,668 Cr; April 21: ₹1,970 Cr; April 22: ₹1,290 Cr; April 23: ₹3,333 Cr; and April 24: ₹8,251 Cr.

This staggering inflow — the highest in recent months — underscores a wave of optimism amid global volatility and signals renewed confidence in India’s growth trajectory, claimed market participants.

Market Snapshot: Trend Pause, Not a Breakdown

Despite today’s minor dip — Nifty ended 82 points lower at 24,250, breaking a seven-session winning streak — technical suggest the uptrend remains firmly intact, said Angel Broking in a post-market note.

According to Angel Broking’s post-market note, this is more of a “trend pause, not a breakdown”. The index continues to trade above key levels, including the 200-day SMA, and maintains a bullish structure, it added.

The brokerage firm said that the “RSI at 66 signals underlying strength”. It also stated that “ADX at 24 supports continued momentum while Nifty remains above all critical moving averages”.

Sectoral Divergence & Broader Market Action

In the Thursday’s session, pharma led the gains, up over 1%, while Realty and FMCG faced selling pressure on profit-booking. Healthcare, Commodities, and Metals showed selective strength.

Broader market action was subdued: 283 stocks declined vs 215 advancers in the Nifty 500. “Market breadth also narrowed, with only 20 of the Nifty 50 stocks ending in green,” added Angel Broking.

Volatility in Individual Stocks

Hindustan Unilever fell 4% post Q4 results, after reporting a 3.7% YoY dip in net profit.

Syngene International nosedived 12.8%, with volume exploding nearly 50x above average.

Ultratech Cement and JK Cement hit all-time highs, driven by rising open interest and breakout momentum.

RBL Bank saw a significant drop in open interest, suggesting a potential shift in trend.

Global Cues: Limited Spillover

While US markets rallied overnight, the positivity didn’t carry through to Asia and Europe. Asian markets closed lower, and European indices were also in the red, reflecting cautious global sentiment amid ongoing geopolitical and macroeconomic concerns.

Outlook: Support at 24,000, Resistance at 24,550

“Nifty has now decisively broken past the 24,000 mark, a key level previously acting as resistance. With the bullish tone set, analysts expect a range-bound move between 23,900 and 24,500, with 24,550 emerging as a crucial resistance — the 61.8% retracement of the decline from all-time highs,” added the brokerage firm.

While a brief consolidation phase is possible given overbought conditions, the FII buying frenzy and strong technical setup suggest the uptrend is far from over.

Disclaimer: This article makes no recommendation for stock market trading or investment.

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