FII continues buying streak pumping ₹588 crore in Indian stocks; DII snap selling spree; check details

livemint.com:

₹288 crore in markets on July 10. Global sentiment was cautious ahead of key macro data and corporate earnings in the week ahead. As per the NSE data, FIIs cumulatively bought ₹8,128.05 crore of Indian equities, while they sold ₹7,539.57 crore --- resulting in an inflow of ₹588.48 crore.

Meanwhile, DIIs infused ₹8,074.49 crore but offloaded ₹7,786.11 crore, registering an overall outflow of ₹288.38 crore. FIIs have been net buyers of domestic equities for nine consecutive days now, while DIIs snapped its selling streak and bought more stocks today. ‘’DIIs have emerged as major sellers during the last two trading sessions with cumulative selling of ₹5316 crore.

At lower levels, FIIs may again buy aggressively since India continues to be a consensus favourite destination for FIIs. In brief, the market is likely to move into a consolidation phase,'' said r. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

During Monday's trade, Sensex ended with a mild gain of 64 points, or 0.10 per cent, at 65,344.17 while the Nifty closed with a gain of 24 points, or 0.12 per cent, at 19,355.90. Mid and smallcaps underperformed as the BSE Midcap index fell 0.45 per cent while the Smallcap ended 0.26 per cent lower. In the 30-share pack Sensex, 21 stocks ended in the red while only nine stocks ended with gains.

It was the gains in the shares of Reliance Industries that saved the benchmark index. The stock rose 3.78 per cent and alone contributed 302 points to the Sensex index. Talking about the current market performance, Vinod Nair, Head of Research at Geojit Financial Services said, ‘’Indian equities faced broad-based weakness, but the benchmark managed to stay marginally positive with the support of strong