FPIs Remain Net Sellers For Tenth Session
In the last five sessions, FPIs have sold equities valued at Rs 27,674.99 crore, while domestic institutional investors have purchased shares worth Rs 31,363.61 crore.
(Source: Envato)
Overseas investors, commonly known as foreign portfolio investors, or FPIs, remained net sellers of Indian equities for ten consecutive sessions on Friday, while domestic institutional investors (DIIs) bought stocks worth Rs 3,730.87 crore.
According to provisional data from the National Stock Exchange (NSE), FPIs offloaded stocks worth Rs 4,162.66 crore.
In the last five sessions, FPIs have sold equities valued at Rs 27,674.99 crore, while domestic institutional investors have purchased shares worth Rs 31,363.61 crore.
In October, including Friday sales, FPIs offloaded stocks worth Rs 58,394.56 crore, whereas domestic institutional investors mopped up stocks worth Rs 57,792.20 crore. In September, FPIs sold stocks valued at Rs 15,423.35 crore, while DIIs purchased stocks valued at Rs 31,860.26 crore.
Foreign institutions have been net buyers of Rs 41,899 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.
"After the sharp fall last week, Nifty consolidated and traded sideways amid relentless selling by FIIs and the absence of any major triggers. Overall, we expect markets to consolidate at higher zones and take cues from global factors and result season," said Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services Ltd.
Result season started with IT major TCS announcing in-line numbers. Now all eyes will be on Infosys results next week and management commentary on revenue growth guidance. Other prominent companies that will announce their earnings include Reliance, HDFC Life, Axis Bank, Wipro and LTIMindtree. Thus, heavyweights are likely to be in focus, he added.
