Foreign institutional investors (FIIs) continued selling on Wednesday, September 13, even after domestic markets brushed aside pessimism from the previous session and saw increased buying activity, on the back of positive macroeconomic data. The domestic institutional investors (DIIs) were net buyers again and invest ₹850 crore in Indian stocks today.
As per the NSE data, FIIs cumulatively bought ₹10,375.25 crore of Indian equities, while they sold ₹12,006.88 crore — resulting in an outflow of ₹1,631.63 crore. Meanwhile, DIIs infused ₹8,104.69 crore and offloaded ₹7,254.83 crore, registering an inflow of ₹849.86 crore.
Where is Nifty headed?
“Bulls successfully regained control from bears, pushing Nifty back above the 20,000 mark. Notably, it closed above this threshold, marking a historic closing high for Nifty. The prevailing sentiment remains optimistic, contingent on put writers safeguarding the 19,900 level,” said Rupak De, Senior Technical Analyst at LKP Securities.
‘’A drop below 19,900 could unsettle put writers, potentially triggering market corrections. On the upside, the 20,100-20,150 range is poised to act as resistance. A clear breakthrough above 20,150 might propel Nifty into a sustained upward trend,” added De.
MORE TO COME…
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Updated: 13 Sep 2023, 08:30 PM IST