FIIs dump ₹1,237 crore after Sensex breaks 11-day gain streak; DIIs invest ₹553 crore
1 min read 18 Sep 2023, 08:09 PM ISTForeign Institutional Investors (FII) dumped ₹1,236.5 crore on Monday after the weak performance of the Indian stock market. On the other hand, DIIs invested ₹552.55 crore in the Indian stock market today
PremiumAs the Indian stock market ended on a muted note, Foreign Institutional Investors (FIIs) dumped a total of ₹1,236.51 crore in Indian equities on Monday. However, the domestic institutional investors (DIIs) continued to be net buyers and infused ₹552.55 in the Indian stock market today.
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India's benchmark indices ended on a lower note on Monday. Sensex and Nifty closed 240 and 60 points lower. IT and Metal emerged as the main dragging force for the markes. Whereas, PSU Bank index rose more than 4%, and Nifty Auto scaled to an all-time high mark.
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According to NSE data, FIIs bought a total of ₹7,520.34 crore and sold ₹8,756.85 crore in the market. This led to a net inflow of ₹1,236.51 crore. On the other hand, DIIs emerged as investors in the Indian equities with a net inflow of ₹552.55 crore. They bought a total of ₹8,097.08 crore and sold ₹7,544.53 crore.
After achieving fresh highs last week, Indian markets failed to impress investors on Monday. Most of the sectoral indices closed in the red on Monday. Contradicting the common trend, PSU bank stocks gain 3.39 per cent today. Out of the total stocks, around 26 of them ended in the red in the Nifty market. Other than this, remaining 24 clocked gains.
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Last week, FII sold equities worth ₹9,321.41 crore, while domestic institutional investors (DIIs) bought equities worth ₹4,572.14 crore. FII market selling is fuelled by High US bond yields and a stronger US dollar. The trend is appearing to continue even now.
The investor's confidence was also affected by the expectations of a demand resurgence in China. It was combined with crude supply cuts. On the other hand, crude oil prices continued their upward march amid supply hike. There are also expectations of dovish stance from the US Fed.
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