FIIs continue purchasing streak with net buy ₹738 crore, DIIs infuse ₹6,763 crore | Mint
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Business News/ Markets / Stock Markets/  FIIs continue purchasing streak with net buy 738 crore, DIIs infuse 6,763 crore
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FIIs continue purchasing streak with net buy ₹738 crore, DIIs infuse ₹6,763 crore

FIIs on Tuesday sold stocks of Indian companies worth ₹13,690.47 crore and bought stocks for ₹14,474.29 crore, resulting in an inflow of ₹783.82 crore, according to NSE data.

FIIs on Tuesday sold stocks of Indian companies worth ₹13,690.47 crore and bought stocks for ₹14,474.29 crore (Image: Pixabay)Premium
FIIs on Tuesday sold stocks of Indian companies worth 13,690.47 crore and bought stocks for 14,474.29 crore (Image: Pixabay)

Foreign Institutional Investors (FIIs) continued with their purchasing streak on Tuesday, November 28 as frontline indices the Sensex and the Nifty 50 ended with gains, snapping their two-day losing run despite weak global cues. 

FIIs on Tuesday sold stocks of Indian companies worth 13,690.47 crore and bought stocks for 14,474.29 crore, resulting in an inflow of 783.82 crore, according to NSE data.

On the other hand, Domestic Institutional Investors (DIIs) bought equities worth 8,088.70 crore and offloaded shares worth 6,763.72 crore, resulting in an inflow of 1,324.98 crore, the exchange data showed.

Last week on November 23, FIIs cumulatively sold 7,093.19 crore and purchased over 7,348.72 crore, resulting in an outflow of 255.53 crore. Meanwhile, DIIs infused 6,234.47 crore and offloaded 457.39 crore, registering an inflow of 721.24 crore.

Nifty 50 today opened at 19,844.65, 50 points higher from the previous close of 19,794.70, and traded in a range for the most part of the session. However, fag-end buying helped the market benchmark end with decent gains.

Mid and smallcap indices also ended in the green on Tuesday. The BSE Midcap index rose 0.30 per cent while the Smallcap index inched up by 0.06 per cent.

The overall market capitalisation of the firms listed on the BSE rose to nearly 331.1 lakh crore from nearly 328.7 lakh crore in the previous session, making investors richer by about 2.4 lakh crore in a single session.

FII have been divesting Indian equities since October, driven by historically high US bond yields, the strengthening dollar index, and geopolitical uncertainties stemming from the Israel-Hamas conflict. These combined factors have exerted downward pressure on market sentiment.

Despite ongoing concerns about elevated interest rates and a global economic slowdown, foreign inflows have remained subdued. However, the outflow in November has notably eased due to lower US bond yields and a decline in crude oil prices.

"The gradual return of FIIs in the month of November post the global sell-off during the three months of (Aug to Oct) is having a steady positivity in India. However, currently the Indian market is facing resistance above to edge above 19,800 levels. Oil prices are stable ahead of the OPEC meeting and OMCs stand to benefit from the ease. Metal sector gained  in line with expectations of Chinese stimulus, and PSU banks are doing well due to better peer performance. The market may await state exit polls for further cues, in the short-term," said Vinod Nair, Head of Research at Geojit Financial Services.

 

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Published: 28 Nov 2023, 07:12 PM IST
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