FIIs sell over ₹1,600 crore in Indian equities even as Nifty settles above 20,000-mark; DIIs invest ₹850 crore

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macroeconomic data. The domestic institutional investors (DIIs) were net buyers again and invest ₹850 crore in Indian stocks today. As per the NSE data, FIIs cumulatively bought ₹10,375.25 crore of Indian equities, while they sold ₹12,006.88 crore --- resulting in an outflow of ₹1,631.63 crore.

Meanwhile, DIIs infused ₹8,104.69 crore and offloaded ₹7,254.83 crore, registering an inflow of ₹849.86 crore. Sustained DII investment supported by strong retail buying is driving the market higher in spite of FII selling, according to analysts. In spite of the net institutional selling by foreign investors, Nifty has scaled its record lifelong highs this month.

This, along with the hyper activity in the mid-and small-cap segments, point to the active participation of retail investors in the rally, noted analysts. On Wednesday, domestic markets settled higher and Nifty closed above the record 20,000 mark for the first time as positive macroeconomic data triggered buying in banking, energy and telecom shares. Sensex settled at 67,466.99, up 245.86 points or 0.37 per cent, extending its gains to a ninth straight session - the longest winning streak in last five months.

Mid and smallcaps, which suffered strong losses in the previous session, resumed their upward journey. The BSE Midcap index rose 0.19 per cent while the Smallcap index clocked a gain of 0.85 per cent. Heavyweights including Bharti Airtel and Titan Company emerged as the top gainers, while M&M and L&T were the major drags.