New Delhi, May 19 -- Foreign portfolio investors (FPIs) slashed some of their bearish positions in Nifty and Bank Nifty derivatives, while also turning buyers in the cash market, on hopes of a rebound in Indian equities amid elevated oil prices.

FPIs were net buyers of shares worth a provisional Rs.2,813.69 crore on Monday, according to BSE data, helping the market pivot from deep intraday losses to end in the green.

Nifty recovered 333 points from its intraday low of 23,317.10 to close at 23,649.95, up 0.3% from Friday's close.

Alongside FPI inflows, domestic institutional investors bought shares worth Rs.2,682.12 crore, as per provisional exchange figures.

Derivatives shift

The rebound was driven not just by institutional cash buyi...