FIIs buying: Only 3rd time when Foreign Investors bought for 4 consecutive days in CY 2022 | Check data

Foreign Institutional Investors (FIIs) bought to the tune of Rs 1,799.32 crore on Thursday, making the fourth consecutive day when FIIs turned net buyers.  

So far in the calendar year 2022, it is only the third time that the FIIs have bought for four or more consecutive days, said Zee Business research analyst Arman Nahar. FIIs total buying in the last four days stood at Rs 4712.68 crore. During the same period benchmark Nifty 50 gained 3.46%.  

On the contrary Domestic Institutional Investors (FIIs) were net sellers in the same period. DIIs were net buyers only on one occasion in the last four sessions on July 18, when it bought worth Rs 844.33 crore in the indian market 

The longest six-day consecutive buying this year was seen from March 29 to April 5, when the Foreign Institutional Investors accumulated Rs 7919 crore. During March 29-April 5, the Nifty50 index gained 4.27% 

Likewise, FIIs bought Rs 3089 crore in four-day session in early January this year.  

Reacting on the FIIs numbers, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that the biggest positive for the bulls now is the complete reversal of FII action from relentless selling till July to sustained buying now, though only for 4 days in a row.  

"This means the June low of 15813 is unlikely to be broken any time soon. The smart recovery in the Nifty Midcap by 12. 73% in the last one month is an indication that this recovery in the market is widespread and, therefore, strong," he said. 

At least, in the short run, the domestic investors who bought when the FIIs sold, have emerged smarter, the expert said.  

Meanwhile, led by FIIs buying and other positive developments, the Indian market was trading firmly on Friday's afternoon. Benchmarks Nifty 50 and Sensex were trading higher by more than half per cent to 16,706.30 and 56,004.23 respectively around 1 pm on Friday.