Overseas investors remained net sellers of Indian equities for the third consecutive session on Tuesday. Foreign portfolio investors offloaded stocks worth Rs 5,579.4 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors stayed net buyers for the seventh straight session and purchased equities worth Rs 4,609.6 crore, the NSE data showed.
Earlier on Sept. 30, FPIs had offloaded stocks worth Rs 9,791.9 crore, marking the highest single-day selling since June 4, when they sold stocks worth Rs 12,436.2 crore.
Foreign institutions have been net buyers of Rs 94,183 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 FPIs bought stocks worth Rs 15,423.4 crore in September, while domestic institutional investors have picked up stocks worth Rs 31,860.3 crore.
On Oct.1, the equity indices extended their fall to a third session as shares of Reliance Industries and HDFC Bank weighed in. The Nifty ended 0.05%, or 13 points, lower at 25,796.90 and the Sensex closed 0.04%, or 33.49 points, lower at 84,266.29. Intraday, both the Nifty and the Sensex fell around 0.2% to hit their respective lows of 25,739.20 points and 84,098.94 points.
"Global cues are mixed amid a weak outlook from European auto OEMs and US Fed Chair commentary on the pace of future rate cuts," said Siddhartha Khemka, head of research and wealth management at Motilal Oswal Financial Services Ltd. "Overall, we expect the market to consolidate with stock-specific action as we enter into result season and companies will announce pre-quarterly updates," he further shared.
The Indian stock market will remain closed on Oct. 2 on account of Gandhi Jayanti.
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