FIIs net buy shares worth Rs 4,667 crore; DIIs net sell Rs 2,006 on April 17

Benchmark indices Nifty and Sensex extended their fantastic run for a fourth straight session on April 17, buoyed by strong gains in bank and oil & gas stocks that lifted market sentiment.

After their largest single-day net buying on Tuesday, on April 17, foreign investors continued to be net buyers while domestic investors were net sellers. FIIs net bought shares worth Rs 4,667 crore and DIIs net sold shares worth Rs 2,006.

During the trading session of April 17, FIIs bought shares worth Rs 18,210 crore and sold shares worth Rs 13,542 crore. DIIs purchased shares worth Rs 13,773 crore and sold shares worth Rs 15,779 crore.

For the year so far, FIIs have been net sellers of shares worth Rs 1.60 lakh crore, while DIIs have net bought Rs 1.99 lakh crore worth of shares.

Benchmark indices Nifty and Sensex extended their fantastic run for a fourth straight session on April 17, buoyed by strong gains in bank and oil & gas stocks that lifted market sentiment. The surge added a massive Rs 4.96 lakh crore to the overall market capitalisation.

The Bank Nifty emerged as the top-performing sectoral index, climbing over 2 percent, driven by gains in heavyweight stocks such as HDFC Bank and ICICI Bank. These gains came ahead of the banks' Q4 earnings, scheduled for release on April 19.

In today's session, the Nifty Midcap and Smallcap 100 indices also mirrored positive trends with gains of 0.6 and 0.4 percent, respectively. Nifty Bank was the sectoral leader with gains of over 2 percent. Auto, Pharma, Oil & Gas, and PSU Bank followed suit, each posting sharp upmoves of over a percent. Nifty FMCG, Metal, and Realty clocked gains of 0.7 percent. On the flip side, Nifty IT was the sole laggard, falling 0.35 percent following a cautious outlook from Wipro.

"The rally appears to be more than just a short-term pullback, as it is supported by broad-based participation, especially from large-cap names and banking and financial stocks. The Bank Nifty index is now trading close to its all-time high, reflecting strong sectoral support," said Ruchit Jain, Vice President of Technical Research at Motilal Oswal.