BackFIIs sell Indian shares worth ₹2,034 crore; DIIs buy worth ₹1,361.02 crore
FIIs sold ₹2,034.14 crore of equities while DIIs bought ₹1,361.02 crore in the Indian share market on Tuesday.
PremiumAs Sensex and Nifty closed on a bearish note, foreign institutional investors (FIIs) sold around ₹2,034.14 crore of equities in the Indian share market on Tuesday. The domestic institutional investors (DIIs) turned into net buyers by investing ₹1,361.02 crore.
As per the NSE data, FIIs cumulatively purchased ₹9,714.68 crore of Indian equities, and sold ₹11,748.82 crore of shares on Tuesday. This resulted in the net outflow of wealth worth ₹2,034.14 crore. On the other hand, DIIs injected ₹9,223.41 crore of funds and sold ₹7,862.39 crore. This resulted in a net inflow of funds worth ₹1,361.02 crore.
Amid unabated foreign fund outflows and sluggish Asian market cues, equity benchmark indices Sensex and Nifty continued to decline on Tuesday. The 30-share BSE Sensex declined 316.31 points or 0.48 per cent to settle at 65,512.10. During the day, it fell 483.82 points or 0.73 per cent to 65,344.59.
The Nifty dropped by 0.56 per cent to end at 19,528.75 on Tuesday. On Sensex, Maruti, NTPC, Tata Motors, ICICI Bank, HDFC Bank, Reliance Industries, JSW Steel, ITC and Mahindra & Mahindra were the major laggards. Whereas, Bajaj Finance, Larsen & Toubro, Bajaj Finserv and Titan emerged as top gainers.
The stock market investors reduced their equity exposure ahead ot the upcoming monetary policy committee meeting this week, believes experts. The stronger dollar also weighed on the rupee. This indicates that foreign investors may have once again taken the role of net sellers of Indian equities.
"Even the robust September GST collections failed to enthuse investors as global worries continue to dictate the trend on local markets," said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.
On Tuesday, the Indian currency depreciated 14 paise to close at 83.20 against the US dollar. Thr weak performance was the result of a strong US dollar and weak domestic equities that dented investor sentiments. Pressure on rupee also mounted due to weak domestic macroeconomic data and sustained FII outflows.
At the interbank foreign exchange market, the local unit opened at 83.21 against the US dollar and moved in a range of 83.23 to 83.17. The day witnessed the rupee settling 14 paise down from its previous close. The Indian currency closed at 83.20 against the US dollar.
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