Foreign Institutional Investors (FIIs) poured over $1.6 billion into Indian equities between August 16 and 27, 2024, according to NSDL data. This investment surge was accompanied by gains in benchmark indices, with Sensex and Nifty rising by over 1.4%, and BSE MidCap and SmallCap indices climbing 1.8% and 2.4%, respectively.
Major deals involving companies like Ambuja Cement, Tata Tech, GMR Airports, and Zomato contributed to the buying spree, totaling around Rs 22,000 crore. Factors such as the stabilization of the Indian rupee and speculation of a US Federal Reserve rate cut further fueled FII activity. Despite this, the first half of August saw FIIs selling $2.12 billion in Indian equities, leading to declines in both Sensex and Nifty.