Overseas investors remained net sellers of Indian equities for the 29th consecutive session on Thursday, while domestic institutional investors also stayed net buyers.
Foreign portfolio investors sold stocks worth Rs 4,888.77 crore, according to provisional data from the National Stock Exchange. The DIIs mopped up stocks worth approximately Rs 1,786.70 crore.
In the last five sessions, the FPIs have sold equities worth Rs 16,445.49 crore, while the DIIs have purchased shares worth Rs 12,265.74 crore.
In October, the FPIs sold stocks worth Rs 1.14 lakh crore, while the DIIs mopped up stocks worth Rs 1.07 lakh crore. In September, the FPIs had bought stocks valued at Rs 15,423.4 crore, while the DIIs purchased stocks worth Rs 31,860.3 crore.
Foreign institutions have been net sellers of Rs 7765 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 domestic market ended with a deeper cut while eroding yesterday’s gain over the Trump trade, according to Vinod Nair, head of research at Geojit Financial Services.
Vinod Nair said that disappointing Q2 and persistent selling by FIIs continue to dampen market sentiment. The broader market saw a widespread sell-off as optimism over Trump’s election victory waned, he said.
The NSE Nifty 50 and the BSE Sensex snapped a two-day rally and settled over 1% lower on Thursday, tracking losses in ICICI Bank Ltd. and Reliance Industries Ltd. The Indian benchmarks were also one of the worst-performing indices as compared to Asian peers.
The Nifty 50 closed 284.70 points or 1.16%, down at 24,199.35, while the Sensex ended 836.34 points or 1.04%, lower at 79,541.79.
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