Market basics
FIIs vs DIIs: who really moves Indian markets?
By Prateek Gupta, CA, CS, 18 Oct 2026, 3 min read
Every evening the stock exchanges publish two numbers that market watchers check closely: how much foreign institutional investors (FIIs) and domestic institutional investors (DIIs) bought or sold that day.
Who they are
FIIs are overseas funds, pension plans and banks investing in Indian shares from abroad. DIIs are Indian institutions: mutual funds, insurance companies, banks and pension funds. A large share of DII money comes from ordinary investors through monthly SIPs.
What happened this October
Up to 16 October, FIIs sold a net ₹48,769 crore in the cash market, while DIIs bought ₹48,168 crore. The heaviest day was 8 October, when FIIs sold ₹12,944 crore and DIIs bought ₹10,703 crore. On 16 October the roles briefly reversed: FIIs bought ₹1,166 crore while DIIs booked profits of ₹3,661 crore after the rally.
Why foreign investors are selling
US government bonds paying above 5%, a weaker rupee that eats into dollar returns, and AI-led rallies in other markets have all drawn money away from India this year.
Why domestic money matters more than it used to
SIP contributions hit a record ₹32,490 crore in September, from 10.06 crore contributing SIP accounts. That steady monthly flow gives Indian funds money to invest even when foreigners sell, which is a big reason recent falls have been cushioned.
One caution: the daily figures are provisional exchange data. Final numbers reported by depositories can differ.
For general information and education only, not investment advice or a recommendation. Mutual Fund investments are subject to market risks, read all scheme related documents carefully.