Mumbai, June 7 : Foreign Portfolio Investors (FPIs) turned net buyers of Indian stocks on Friday, picking up shares worth Rs 1,009.7 crore, according to latest provisional data from the National Stock Exchange (NSE).

This marked a positive turn as investor confidence continues to grow. Domestic Institutional Investors (DIIs) also remained active buyers for the 14th straight session, investing Rs 9,342.5 crore in equities.

One of the key highlights of the day was a major transaction by Bajaj Holdings and Investment Limited, which sold shares worth Rs 2,002.2 crore in Bajaj Finserv Limited through a block deal.

This move involved selling 1.04 crore equity shares, representing 0.65 per cent of Bajaj Finserv's paid-up capital.

Earlier in the day, the company's promoters had also sold a large number of shares in a pre-market transaction.

Market activity also received a further boost after the Reserve Bank of India's Monetary Policy Committee cut the repo rate by 50 basis points, bringing it down to 5.5 per cent.

This move is expected to make borrowing cheaper and support economic growth. Reflecting this positive sentiment, the benchmark indices closed higher for the third straight day.

The Nifty climbed 252 points, or 1.02 per cent, to end at 25,003. The Sensex also moved up by 746.95 points, or 0.92 per cent, to close at 82,188.99.

During the trading session, both indices touched higher levels, with the Nifty reaching 25,092.50 and the Sensex hitting 82,299.89.

Strong performances from companies like Eternal Limited and Shriram Finance Limited helped drive this weekly rally.

The Nifty gained over 1 per cent this week and the Sensex also rose by nearly 1 per cent, snapping a two-week losing streak.

Experts say that recent steps by market regulators and the central bank have made the investment climate even more attractive.

Manoj Purohit, a partner at BDO India, highlighted that measures such as extending the deadline for disclosure rules and easing restrictions on foreign investment in corporate debt are building confidence among global investors.

'These steps are seen as positive for both equity and bond markets. As global trade conditions improve and India continues to offer solid economic fundamentals, investor sentiment remains upbeat,' Purohit added.

/IANS