FIIs continue to sell amid weak global cues, DIIs sell over ₹7,414 crore

livemint.com:

₹12,035.41 crore and purchased over ₹11,557, resulting in an inflow of ₹ 477.6 crore on Friday. Meanwhile, DIIs invested ₹ 6,849 crore and offloaded ₹ 7,414 crore, registering an inflow of ₹ 565.48 crore. On November 16, FIIs snapped their selling streak by purchasing worth ₹13,546 crore amid festive season after the stock market ended on a higher note for the second day straight.

FIIs cumulatively sold 12,589 crore, resulting in an outflow of ₹ 957.25 crore on Thursday. Meanwhile, DIIs invested ₹ 6,690 crore and offloaded ₹ 5,985 crore, registering an outflow of ₹ 705.65 crore, on Thursday. 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.

There are some important trends which will impact the market in the near-term. One, the big macro driver of this two day rally in the market - peaking and declining US bond yields - is very much in place. This will continue to impart resilience to the market.