FII selling shows no signs of abating, offload over ₹4,000 crore in Indian stocks; DIIs are net net buyers
₹1,769.49 crore in Indian stocks today. As per the NSE data, FIIs cumulatively bought ₹9,848.55 crore of Indian equities, while they sold ₹14,272.57 crore --- resulting in an outflow of ₹4,424.02 crore on Wednesday. Meanwhile, DIIs infused ₹10,050.08 crore and offloaded ₹8,280.59 crore, registering an inflow of ₹1,769.49 crore.
FIIs have sold ₹25,000 crore in cash markets last month, according to analysts. The US Treasury yields hit a 16-year high mark and crude oil prices almost touched $98 per barrel last week amid concerns over interest rates staying high for an extended period and its impact on the global economy. This has largely supported the FII selling streak since August.
"Global cues are negative for markets in the near-term. The sustained rise in the US bond yields, which has triggered continuous FII selling, is showing no signs of abating. The dollar index is now clearly above 107 and the US 10-year bond yield is at 4.83 per cent.
This means FIIs will continue to sell and the bulls will be on the back foot,'' said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! Domestic equity benchmarks traded lower amid a sharp rise in the US bond yields and US dollar.
Nifty 50 started the day at 19,446.30 against the previous close of 19,528.75 and fell about a per cent to hit its intraday low of 19,333.60. The Sensex opened at 65,330.65 against the previous close of 65,512.10 and declined nearly by a per cent to the intraday low of 64,878.77. Nifty 50 finally ended the day at 19,436.10, down 93 points, or 0.47 per cent, while the 30-share pack
. Read more on livemint.com
