Institutional Tug-of-War: FPIs Dump ₹9,931 Crore as FY27 Volatility Intensifies

Foreign Outflows Hit Multi-Month Highs Amid Geopolitical Escalation; DIIs Attempt to Cushion the Blow with ₹7,208 Crore Buy-In

The second trading session of the new financial year (Thursday, April 2, 2026) witnessed a violent return of institutional divergence. Foreign Portfolio Investors (FPIs) executed a massive exit strategy, offloading a net ₹9,931.13 crore in the cash market. This represents one of the largest single-day sell-offs by foreign funds in recent months, triggered by a toxic mix of rising crude oil prices, a weakening Rupee, and direct threats from Iran's Revolutionary Guards (IRGC) against U.S.-linked corporate interests in the Middle East. On the other side of the ledger, Domestic Institutional Investors (DIIs) continued their role as the market's "last line of defense." Mutual funds and insurance giants pumped in ₹7,208.41 crore, marking their third consecutive session of multi-billion rupee buying. While the domestic support was substantial, it was insufficient to fully offset the foreign exodus, leading to a day of intense "choppiness" on Dalal Street.

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