Overseas investors remained net sellers of Indian equities for the 28th consecutive session on Wednesday, while domestic institutional investors also stayed net buyers.
Foreign portfolio investors sold stocks worth Rs 4,445.6 crore, according to the provisional data from the National Stock Exchange. The DIIs mopped up stocks worth approximately Rs 4,889.3 crore.
In the last five sessions, the FPIs have sold equities worth Rs 17,370 crore, while the DIIs have purchased shares worth Rs 13,993.6 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 4,052 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.
Global developments have certainly uplifted sentiments, but we will keep a close watch for the next couple of days, said Osho Krishan, senior analyst, technical and derivatives at Angel One Ltd.
"A decisive follow-up move from hereon could provide the necessary momentum for a significant move in the near future. Additionally, there is clear evidence of sectoral rotation, so it is important to adjust our focus accordingly to achieve better performance," he said.
The NSE Nifty 50 and BSE Sensex both closed with gains of over 1% on Wednesday, driven by a rally in technology stocks like Infosys Ltd. and Tata Consultancy Services Ltd., following Donald Trump's victory in the US elections.
The Nifty 50 ended 270.75 points or 1.12% higher at 24,484.05, and the Sensex closed 901.50 points or 1.13% up at 80,378.13.
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