Foreign institutional investors (FIIs) are back to selling after a two-day gap as Indian markets settled lower on August 11 on weak global cues with the dollar’s rise against its major global peers after the US inflation came in steady. The domestic institutional investors (DIIs) turned net buyers and invested ₹500.35 crore during Friday’s session.
As per the NSE data, FIIs cumulatively bought ₹9,508.14 crore of Indian equities, while they sold ₹12,581.42 crore — resulting in an outflow of ₹3,073.28 crore. Meanwhile, DIIs infused ₹8,828.21 crore and offloaded ₹8,327.26 crore, registering an inflow of ₹500.35 crore.
FII inflows between April to July were close to ₹80,500 crore, while domestic institutional investors (DII) sold ₹4,500 crore in this period. The DII selling comes on the back of mutual fund SIP inflows of Rs.43,211 crore in the April-June quarter, at an average inflow of ₹14,400 crore a month.
On Friday, Sensex opened 40 points higher at 65,727.80 against the previous close of 65,688.18 but soon slipped into the red and traded in the negative territory for the rest of the session. The index fell 414 points to hit the intraday low of 65,274.61. The Nifty50 hits its intraday low of 19,412.75.
The Sensex closed 365.53 points, or 0.56 per cent, lower at 65,322.65 while the Nifty closed the day at 19,428.30, down 114.80 points, or 0.59 per cent. Mid and smallcaps also fell but they still outperformed the benchmark.
The BSE Midcap index ended 0.13 per cent lower while the Smallcap index ended with a loss of 0.31 per cent. For the week, Sensex lost 0.6 per cent while Nifty declined 0.45 per cent.
‘’Domestic equities continued with its weakness on account of subdued global cues and hawkish commentary from RBI. Nifty witnessed selling pressure for the second consecutive day to close with a loss of 115 points (-0.6 per cent) at 19,428,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
‘’Except for PSU Bank and Consumer Durables, all sectors ended in red. The result season is now coming to an end. Overall the earnings have been in the expected line. In the absence of any major trigger and uncertain global cues, we expect the market to consolidate in the range,” added Khemka.
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Updated: 11 Aug 2023, 07:38 PM IST