Overseas investors, commonly known as foreign portfolio investors, remained net sellers of Indian equities for the 12th consecutive session on Tuesday, while domestic institutional investors stayed net buyers for the 16th consecutive session.
The FPIs offloaded stocks worth Rs 1,748.7 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors bought stocks worth approximately Rs 1,655 crore.
In the last five sessions, the FPIs have sold equities valued at Rs 19,132.3 crore, while the DIIs have purchased shares worth Rs 15,050.7 crore.
In October, including Tuesday sales, the FPIs offloaded stocks worth Rs 63,874.9 crore, while the DIIs mopped up stocks worth Rs 61,725.3 crore. In September, the FPIs sold stocks valued at Rs 15,423.4 crore, while the DIIs purchased stocks valued at Rs 31,860.3 crore.
Foreign institutions have been net buyers of Rs 34,309 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.
A lot of underlying move in the Indian markets can be attributed to earnings, which is a positive sign and a key reason why Goldman Sachs remains optimistic on the India story, said Sunil Koul, Asia Pacific portfolio strategist at Goldman Sachs.
Koul remained optimistic on a significant portion of the market's more than 40% returns over the past 20 months being driven by earnings.
India's benchmark stock indices ended lower on Tuesday, tracking the losses in index heavyweight Reliance Industries Ltd. after it reported lower-than-expected profit in the September quarter.
The NSE Nifty 50 ended 0.28% or 70.60 points lower at 25,057.35 and the S&P BSE Sensex closed 0.19% or 152.93 points down at 81,820.12. Intraday, the Nifty fell 0.5% and Sensex fell 0.4%. Sectoral indices were mostly down at close. Nifty Realty rose the most and Nifty Metal was the top loser.
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