FPIs Remain Net Sellers For 38 Straight Sessions

Overseas investors remained net sellers of Indian equities for the 38th consecutive session on Friday, while domestic institutional investors stayed net buyers for the 13th straight session.

Foreign portfolio investors net sold stocks worth Rs 1,278.4 crore, according to provisional data shared by the National Stock Exchange. The DIIs were net buyers of shares worth Rs 1,722.2 crore.

In the last five sessions, the FPIs have sold equities worth Rs 13,264.1 crore, while the DIIs purchased shares worth Rs 13,518.6 crore.

The FPIs have offloaded stocks worth Rs 40,947.5 crore so far in November, while the DIIs mopped up stocks worth Rs 37,559.1 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 19,940 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 NSE Nifty 50 and BSE Sensex recorded the best session in over five months on Friday after ending with over 2% gain. The surge helped the Nifty 50 post its best week in nearly two months.

The Nifty 50 ended 557.35 points or 2.39% higher at 23,907.25, and the Sensex closed 1,961.32 points or 2.54% higher at 79,117.11.

Reliance Industries Ltd., Infosys Ltd., ICICI Bank Ltd., ITC Ltd. and Tata Consultancy Services Ltd. added to the Nifty 50 index the most. Bajaj Auto Ltd. weighed on the benchmark index.

The broader indices underperformed as the BSE MidCap closed 1.3% higher and the SmallCap was 0.9% up.

All 21 sectoral indices on the BSE closed higher, with IT rising the most.

The market breadth was skewed in favour of the buyers as 2,455 stocks rose, 1,463 fell and 124 remained unchanged on the BSE.