FIIs sell equities worth Rs 12,436 crore; DIIs net sellers at Rs 3,319 crore
Foreign institutional investors (FIIs) sold Indian equities worth Rs 12,436.22 crore on Tuesday while domestic institutional investors (DIIs) offloaded shares worth Rs 3,318.98 crore. The total sell-off shot up to 15,755 crore.
This is in sharp contrast to Monday's buying action where both FIIs and DIIs were net buyers and purchased shares worth Rs 6,851 crore and Rs 1,914 crore, respectively, taking the overall tally to Rs 8,765 crore.
The Indian headline indices on Tuesday closed with deep cuts amid selling pressure across sectors and marketcaps. The market capitalisation of the BSE listed company fell by 30 lakh crore to 3,95.50 lakh crore as the S&P BSE Sensex on Tuesday crashed to the day's low of 70,234.43, falling by over 6,200 points from the closing of 76,468.78 on Monday. It finally ended at 72,186.49, down by 4282.29 points or 5.60%.
Nifty on the other hand closed at 21,884.50, down by 1,379.40 or 5.93%.
Commenting on the market action, Pradeep Gupta, Co-founder & Vice-chairman at Anand Rathi Group, said the markets saw heightened volatility due to the uncertainty surrounding the election outcomes mainly due to the gap between the exit polls and the actual results declared on Tuesday.
«The pre-election rally witnessed yesterday (Monday), driven by expectations of a BJP victory, had already been factored into market prices. Till the question of the continuity of the current government was at an unsure position, the markets continued with heightened volatility in the short term period,» Gupta said.
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