FIIs offload over ₹4,000 crore ahead of Fed Chair Powell speech; DII net buyers again
US Federal Reserve Chair Jerome Powell's speech at Jackson Hole. The domestic institutional investors (DIIs) were net buyers again and invested ₹1,414 crore during the session. As per the NSE data, FIIs cumulatively bought ₹10,929.61 crore of Indian equities, while they sold ₹15,567.82 crore --- resulting in an outflow of ₹4,638.21 crore.
Meanwhile, DIIs infused ₹8,542.44 crore and offloaded ₹7,128.09 crore, registering an inflow of ₹1,414.35 crore. US stocks opened higher on Friday ahead of a keenly awaited speech by the Federal Reserve Chairman at the Jackson Hole summit that could indicate the central bank's interest rate move at its next meeting in September. The Dow Jones Industrial Average rose 117.64 points, or 0.34 per cent, at the open to 34,217.06.
The S&P 500 opened higher by 13.07 points, or 0.30 per cent, at 4,389.38, while the Nasdaq Composite gained 50.40 points, or 0.37 per cent, to 13,514.37 at the opening bell. On Friday, domestic equity benchmarks Sensex and Nifty extended losses for the second consecutive session as the market witnessed an all-round selloff while investors directed their attention towards the Jackson Hole symposium in search of indications about the future direction of interest rates. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the negative territory.
Sensex closed with a loss of 366 points, or 0.56 per cent, at 64,886.51 while the Nifty50 closed the day at 19,265.80, down 121 points, or 0.62 per cent. All sectors traded in sync with the benchmark wherein realty, metal and pharma were the top losers. For the week, Sensex slipped by 0.10 per cent while the Nifty declined by 0.23 per cent.
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