FIIs selling spree continues for 3 days in row, outflow of ₹701 crore on 5 June; DIIs buy ₹1,196 crore
FIIs were net sellers for the third consecutive day on Monday, with an outflow of ₹700.98 crore, while DIIs continued their buying spree, recording an inflow of ₹1,195.98 crore. The Sensex and Nifty 50 closed positively, with midcap and smallcap stocks hitting new lifetime highs.
PremiumForeign institutional investors (FII) continued to be net sellers for third consecutive day on Monday. Meanwhile, domestic instutitional investors (DIIs) extended their buying spree. Sensex and Nifty 50 closed on a positive note with midcap and smallcap stocks touching new lifetime high. The upside can be attributed to favourable domestic economic indicators.
According to the NSE data, FIIs buying value was at ₹7,740.87 crore and selling value at ₹8,441.85 crore -- registering an outflow of ₹700.98 crore in Indian equities on Monday.
DIIs purchased equities worth ₹7,460.68 crore, on the other hand, they offloaded stocks to the tune of ₹6,264.70 crore, recording an inflow of ₹1,195.98 crore.
Meanwhile, Sensex closed at 62,787.47, climbed by 240.36 points or 0.38%. Nifty 50 surged by 59.75 points or 0.32% to end at 18,593.85. Midcap and small-cap stocks extended their rally to touch a new all-time high. In terms of sectoral indices, auto and capital goods stocks outperformed, while a substantial upside was also seen in banking and consumer durables stocks.
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Ajit Mishra, SVP - Technical Research at Religare Broking Ltd said, “Markets started the week with modest gains, tracking firm global cues. After the gap-up start, Nifty oscillated in a range till the end and finally settled at 18,598 levels. Meanwhile, mixed trends on the sectoral front kept the traders busy wherein auto, banking mainly private and realty posted decent gains. In line with the move, the market breadth was also inclined strongly on the advancing side."
Last week, on Friday, FIIs sold ₹658.88 crore in Indian equities, however, DIIs made a buying of ₹6,951.54 crore.
From June 1-2nd, FIIs sold ₹729.95 crore in Indian equities, while DIIs held net buyers' tag with an inflow of ₹1,070.78 crore.
During May month, FIIs made their biggest monthly buying of 2023 as of now, to ₹27,856.48 crore. However, DIIs were net sellers with an outflow of ₹3,306.35 crore, as per Stock Edge data.
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Going ahead, Mishra added, "The rebound in the US markets has prompted this uptick but we need stability on the global front for a new high. Meanwhile, traders should continue with a stock specific trading approach and utilize any intermediate dips or pause to accumulate quality stocks. Apart from the key sectors, one can selectively look at midcap and smallcap also, citing their prevailing outperformance."
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