FPIs Offload Rs 3,979 Crore In 17th Consecutive Selling Session

Overseas investors remained net sellers of Indian equities for the 17th consecutive session on Tuesday, while domestic institutional investors stayed net buyers for the 21st straight session.

The FPIs offloaded stocks worth Rs 3,978.6 crore, according to provisional data from the National Stock Exchange. The DIIs bought stocks worth Rs 5,869.1 crore.

In the last five sessions, the FPIs have sold equities valued at Rs 22,583.5 crore, while the DIIs have purchased shares worth Rs 21,545.9 crore.

In October, including Tuesday sales, the FPIs offloaded stocks worth Rs 86,458.3 crore, while the DIIs mopped up stocks worth Rs 83,271.2 crore. In September, the FPIs sold stocks valued at Rs 15,423 crore, while the DIIs purchased stocks valued at Rs 31,860 crore.

Foreign institutions have been net buyers of Rs 28,474 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.

The FII flow was net negative in the first fortnight of October. In 2024, the highest inflows were seen in commercial and professional services, telecommunication, and consumer services, according to Emkay Global Financial Services Ltd.'s fortnightly sector-wise foreign flow report.

Financial services sector saw largest outflow in the year, followed by the energy sector.

The NSE Nifty 50 and the BSE Sensex closed at the lowest level in over two months on Tuesday as heavyweights Reliance Industries Ltd. and HDFC Bank Ltd. weigh. Broad–based weakness in US stocks, Asian and European shares due to concern about the pace of unwinding of monetary conditions in the US also seeped into the Indian markets.

The Nifty 50 ended 309 points or 1.25% down at 24,472.10, and the Sensex closed 930.55 or 1.15% down at 80,220.72, the lowest level since Aug 14.

During the last leg of the trade, the Nifty 50 fell as much as 1.35% to 24,445.80, and the Sensex fell 1.23% to a low of 80,149.53.