FPIs Stay Net Sellers For Fifth Straight Day
In the last five sessions the FPIs have offloaded Rs 41,720.60 crore, while the domestic institutional investors have bought shares worth Rs 39,961.04 crore.
(Photo by Alexander Grey on Unsplash)
Overseas investors stayed net sellers of Indian equities on day for fifth straight day on Friday. Foreign portfolio investors offloaded stocks worth Rs 9,896.95 crore, according to provisional data from the National Stock Exchange. This is the sixth highest single day selling by the FPIs so far this year.
Domestic institutional investors stayed net buyers for the ninth session and bought equities worth Rs 8,905.08 crore, the NSE data showed. This is the fourth highest single day buying so far in 2024.
In the last five sessions the FPIs have offloaded Rs 41,720.60 crore, while the domestic institutional investors have bought shares worth Rs 39,961.04 crore.
In October including Friday's selling, FPIs have sold stocks worth Rs 30,719.57 crore, whereas domestic institutional investors have mopped up stocks worth Rs 26,428.59 crore. While in September the FPIs have sold equities worth Rs 15,423.35 crore and the DIIs bought equities worth Rs 31,860.26 crore.
Foreign institutions have been net buyers of Rs 73,468 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 highest selling by the FPIs happened on Thursday when the FPIs offloaded equities worth Rs 15,243.27 crore, while the DIIs recorded peak buying as the NSE Nifty 50, and BSE Sensex saw a steep fall following Securities and Exchange Board of India's curbs on futures trading and geopolitical tension in the Middle East.
The selling comes as India's benchmark equity indices recorded their worst weekly loss in over two years amid rising tensions in the Middle East.
Both the Nifty and Sensex fell more than 4% this week, their worst fall since the week ended June 13, 2022, led by losses in Hero MotoCorp, Shriram Finance, and Axis Bank.
Friday's session was volatile as the benchmarks saw big swings from an intraday high of 1% to a fall of 1%. The NSE Nifty 50 closed 0.79%, or 200.25 points, lower at 25049.85, and the BSE Sensex fell 0.98%, or 808.65 points, to close at 81688.45.
