FIIs buy Indian equities for 2nd straight day, invest ₹957.25 crore; DIIs purchase ₹705 crore
₹13,546 crore amid festive season after the stock market ended on a higher note for second day straight. As per NSE data, which published on November 16, FII cumulatively sold 12,589 crore, resulting in an outflow of ₹ 957.25 crore on Thursday. Meanwhile, DII invested ₹ 6,690 crore and offloaded ₹ 5,985 crore, registering an outflow of ₹ 705.65 crore.
On November 15, the total foreign outflow remained at ₹ 7,630 crore in the first fortnight of November 2023. However, domestic institutional investors (DII) seemed to be on the winning side as the buyers remained in the first 15 days of the month. FII have been divesting Indian equities since October, driven by historically high US bond yields, the strengthening dollar index, and geopolitical uncertainties stemming from the Israel-Hamas conflict.
These combined factors have exerted downward pressure on market sentiment. Despite ongoing concerns about elevated interest rates and a global economic slowdown, foreign inflows have remained subdued. However, the outflow in November has notably eased due to lower US bond yields and a decline in crude oil prices.
“An important trend in the market is the increasing clout of DIIs, HNIs and retail investors and the diminishing influence of FPIs. During August, September October and November till date FPIs cumulatively sold stocks for ₹83422 crores through the exchanges. During this period DIIs alone bought stocks worth ₹77995 crores.
FPI selling is completely getting neutralised by DII and individual investor buying. This is the reason why Nifty is around 19675, the same level which it was in early August," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Vijaykumar further added, “ The resilience of the
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