FIIs sell ₹92.85 crore, DIIs buy 1,035.69 crore shares; step in to support markets, Sensex, Nifty end flat
1 min read 01 Aug 2023, 07:47 PM ISTEquity markets experienced minor losses due to profit booking. IT shares performed well, while realty shares corrected. Rupee closed at 82.3250 per dollar. Power Grid, Bajaj Finserv, and Reliance were major drags.
PremiumForeign Institutional Investors (FIIs) were the net sellers of securities worth of ₹92.85 crore, while domestic institutional investors (DIIs) bought securities for a net total of ₹1,035.69 crore.
Domestic equity markets experienced minor losses. The market started positively, but profit booking led to a range bound trading session. Despite the minor corrections, overall sentiment remains positive due to favorable global cues and selective buying in different sectors. IT shares performed well, while realty shares corrected.
The S&P BSE Sensex slipped 68.36 points or 0.10% to 66,459.31, and the Nifty 50 index lost 20.25 points or 0.10% to 19,733.55. The S&P BSE Mid-Cap index fell 0.23%, while the S&P BSE Small-Cap index increased by 0.50%. On Tuesday (01 August 2023), the rupee closed lower at 82.3250 per dollar, compared to its previous closing of 82.3175 per dollar.
Power Grid Corporation of India, Bajaj Finserv, and Reliance Industries were the major drags. The India VIX, a gauge of market volatility, fell 1.24% to 10.28.
Ajit Mishra, SVP - Technical Research, Religare Broking said, "Markets traded range bound and ended almost unchanged amid mixed cues. Initially, Nifty tried to inch higher in continuation to Monday’s up move but profit taking in select heavyweights capped the upside. It oscillated in a narrow range thereafter and finally settled at 19734.30 levels. In line with the benchmark, the majority of sectors ended flat however continued recovery in IT majors saved the day. Among the broader indices, the smallcap index inched higher and gained over half a percent while the midcap ended flat."
"Markets have been maintaining a positive tone amid consolidation, thanks to upbeat global cues and selective buying across sectors. The existence of multiple supports at 19,500 in Nifty is further adding to the confirmation. We thus reiterate our view to look for buying opportunities on dips and avoid contrarian trades" he added.
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