Have the FIIs lost their way amid DIIs capitalisation on market rally

FIIs failed to participate in the big runup in better-quality infrastructure cos, defence and energy transition and public-sector companies, many of which have reported vastly improved performances

From the bottom of 15,183 in mid-June 2022, the benchmark market index Nifty has soared 69 per cent to hit 25,791. In the past 18 months alone, the index has surged 52 per cent. All investor segments — individuals, mutual funds, and other domestic institutional investors (DIIs) — seem to have made good money from this bull market, except of course reckless derivatives traders. This lot has lost Rs 51,689 crore in FY24, according to a study by the Securities and Exchange Board of India, the regulator. What about foreign institutional investors (FIIs)? Surely, with their superior