Mumbai: The Domestic Institutional Investors (DIIs) are bullish on the Indian stock market and have poured over Rs 2 lakh crore so far this year.
DIIs, including mutual funds, banks, and insurance companies, have been continuously investing in the Indian market.
They invested over Rs 26,000 crore in January, more than Rs 25,000 crore in February, over Rs 56,000 crore in March, Rs 44,000 crore in April, and over Rs 53,000 crore in May (to date).
This is the first time domestic investors have invested more than Rs 2 lakh crore in the first five months of a calendar year.
The DIIs invested more than Rs 2 lakh crore in the full year of 2022.
According to reports, more than Rs 2 lakh crore were invested by DIIs in just 96 trading sessions.
DIIs took 57 trading sessions to invest the first Rs one lakh crore. After that, it took only 39 trading sessions for them to pump the next Rs 1 lakh crore.
Continuous buying from DIIs has helped the Indian stock market to offset any impact of selling by foreign institutional investors (FIIs).
So far in 2024, FIIs have sold more than Rs 24,000 crore.
During this period, Sensex and Nifty have given returns of 2.4 per cent and 3.5 per cent, respectively.
Nifty Midcap 100 has given returns of about 11 per cent and Nifty Smallcap 100 has given returns of about 9.5 per cent.
–IANS