FPIs Stay Net Sellers For 30th Consecutive Session

Overseas investors remained net sellers of Indian equities for the 30th consecutive session on Friday, while domestic institutional investors stayed net buyers.

Foreign portfolio investors sold stocks worth Rs 3,404.04 crore, according to provisional data from the National Stock Exchange. The DIIs mopped up stocks worth approximately Rs 1,748.44 crore.

In the last five sessions, the FPIs have sold equities worth Rs 19,637.6 crore, while the DIIs have purchased shares worth Rs 14,391.51 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 13,401 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 gyrating nearly 700 points in early trades, markets moved in a range-bound manner thereafter and ended marginally lower on selective selling in banking, telecom, metal, oil and gas and realty stocks," said Prashanth Tapse, a senior vice president, Mehta Equities Ltd.

Despite recovery in global indices, Indian markets continue to bear the brunt of FII fund outflows. The US Federal Reserve's 25 basis points rate cut failed to enthuse local investors as the undertone remained caution with a negative bias, he said.

The NSE Nifty 50 and BSE Sensex erased weekly gains as global political and economic events caused volatility in the domestic markets. The benchmark indices ended lower for second day in a row on Friday, as ICICI Bank Ltd. and Reliance Industries Ltd. share prices dragged.

The Nifty 50 ended 51.15 points, or 0.21% down at 24,148.20, and the Sensex ended 55.47 points, or 0.07% lower at 79,486.32.