FPIs Stay Net Sellers For 35 Consecutive Sessions

Overseas investors remained net sellers of Indian equities for the 35th consecutive session on Monday, while domestic institutional investors stayed net buyers.

Foreign portfolio investors sold stocks worth Rs 1,403.40 crore, according to provisional data shared by the National Stock Exchange. The domestic institutional investors mopped up stocks worth approximately Rs 2,330.56 crore.

In the last five sessions, the FPIs have sold equities worth Rs 11,087.04 crore, whereas the DIIs have purchased shares worth Rs 14,838.70 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 17,320 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.

Benchmark equity indices extended their fall for another session with the Nifty marking longest losing streak -- eight sessions -- since Feb 28, 2023 and Sensex recording a fourth session of decline.

Nifty ended 0.3% or 78.9 points lower at 23,453.80 and the Sensex ended 0.3% or 241.3 points lower at 77,339.01.

Broader markets ended lower on Monday. The Bombay Stock Exchange Midcap outperformed benchmark indices and settled 0.17% lower. BSE Smallcap index settled 0.69% lower to underperform the benchmark indices.

Shares of Infosys Ltd., Tata Consultancy Services Ltd., Reliance Industries Ltd., Axis Bank Ltd., and ICICI Bank Ltd. dragged the Nifty.

While those of HDFC Bank Ltd., State Bank Of India, Hindalco Industries Ltd., Mahindra & Mahindra Ltd., and Hindustan Unilever Ltd. minimised the fall.

Most sectoral indices ended higher with Nifty Metal rising the most and Nifty IT was the top loser.