Overseas investors snapped two days of selling to turn net buyers of Indian equities on Tuesday.
Foreign portfolio investors net bought equities worth Rs 4,165.86 crore, the highest so far this year, as per data from the National Stock Exchange. The second highest buying was on March 31, with FPIs buying Rs 3,089 crore of Indian equities.
The longest buying stretch by FPIs, this year so far, lasted 13 days from July 28 to Aug. 17.
The buying may have received a boost as re-balancing of the MSCI Index was expected today, since Aug. 31 is a trading holiday on account of Ganesh Chaturthi.
Domestic institutional investors, on the contrary, turned net sellers of equities worth Rs 656.72 crore following two days of buying.
Institutions net bought Rs 14,956.61 crore worth of equities in the month of August and net sold Rs 33,483.08 crore till date in 2022.
India's stock benchmarks extended gains to rise over 2.5%, aided by real estate and banking stocks.
The Sensex jumped over 1,500 points and ended at 59,537.07 on the BSE, while the Nifty 50 ended at 17,759.3, close to its intraday high of 17,777.65 on the NSE.
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