FIIs dump ₹1,237 crore after Sensex loses 11-day gain streak

Also Read: Market Wrap: Sensex snaps 11-day winning streak; PSU banks buck the trend

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.

Also Read: Can a gloomy Chinese market outlook spur foreign investor interest in India? Experts weigh in

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. 

Also Read: Holmarc Opto-Mechatronics IPO: Issue booked over 8 times on day 2 so far; Check subscription status, GMP, other details

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.

Also Read: 1:1 bonus share, 1:10 stock split: Multibagger IPO turns ₹13,500 to ₹1.35 lakh in six years

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.

Updated: 18 Sep 2023, 08:33 PM IST