Overseas investors, commonly known as foreign portfolio investors, remained net sellers of Indian equities for the 14th consecutive session on Thursday, while domestic institutional investors stayed net buyers for the 18h straight session.
The FPIs offloaded stocks worth Rs 7,421.4 crore, the highest this week, according to provisional data from the National Stock Exchange. The DIIs bought stocks worth Rs 4,979.8 crore.
In the last five sessions, the FPIs have sold equities valued at Rs 20,500.3 crore, while the DIIs have purchased shares worth Rs 14,900 crore.
In October, including Thursday sales, the FPIs offloaded stocks worth Rs 74,732 crore, while the DIIs mopped up stocks worth Rs 68,961 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 30,212 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.
China's recent monetary stimulus has led to significant outflows of foreign institutional investors from India, while domestic institutions are actively stepping in to purchase stocks during this downturn.
As foreign investors continued to offload domestic stocks, the Indian rupee has come under pressure and has closed weaker than the US dollar on Thursday.
The NSE Nifty 50 and BSE Sensex extended losses for the third straight session to record their lowest closing in nearly two months on Thursday as some of the quarterly results of key companies failed to impress the market.
The Nifty fell 221.45 points or 0.89% to end at 24,749.8 and the Sensex dropped 494.75 points 0.61% to settle at 81,006.61. During the day, the Nifty fell as much as 0.97% and the Sensex plunged 0.7%.
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