FPIs Remain Net Sellers For 27th Consecutive Session
In the last five sessions, the FPIs have sold equities worth Rs 17,538.1 crore, while the DIIs have purchased shares worth Rs 13,622.6 crore.
Overseas investors remained net sellers of Indian equities for the 27th consecutive session on Tuesday, while domestic institutional investors also stayed net buyers.
Foreign portfolio investors sold stocks worth Rs 2,569.4 crore, according to the provisional data from the National Stock Exchange. The DIIs mopped up stocks worth approximately Rs 3,031 crore.
In the last five sessions, the FPIs have sold equities worth Rs 17,538.1 crore, while the DIIs have purchased shares worth Rs 13,622.6 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 2,312 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 Nifty 50 has formed a piercing candlestick pattern along with a positive divergence in the relative strength index and 150 displaced moving average support, according to Aditya Gaggar, director of Progressive Share Brokers.
"As indicated yesterday also, a level of 23,800 will serve as an immediate support for the Nifty, while on the higher side, and the resistance level is shifted higher to 24,370," he said.
The NSE Nifty 50 ended 0.91% or 217.95 points higher at 24,213.30 and the BSE Sensex ended 0.88% or 694.39 points higher at 79,476.63.
Share prices of HDFC Bank Ltd., ICICI Bank Ltd., Axis Bank Ltd., State Bank of India, and Tata Steel Ltd. contributed the most to the gains in Nifty.
While those of Infosys Ltd., ITC Ltd., Trent Ltd., Coal India Ltd., and Adani Ports & Special Economic Zone Ltd. capped the upside.
