FIIs snap selling streak as Indian markets edge higher, invest ₹644 cr in equities; DIIs turn net sellers
₹598 crore during Wednesday's session. As per the NSE data, FIIs cumulatively bought ₹9,342.47 crore of Indian equities, while they sold ₹8,698.36 crore --- resulting in an inflow of ₹644.11 crore. Meanwhile, DIIs infused ₹8,041.44 crore and offloaded ₹8,639.32 crore, registering an overall outflow of ₹597.88 crore.
Also Read: Top gainers, losers today: JSW Steel, M&M, Maruti Suzuki, Bajaj Finance; check full list Domestic equity indices Sensex and Nifty ended higher on Wednesday, on late-session buying activity just one day before the monetary policy outcome. The three-day meeting of the six members of the MPC of the Reserve Bank of India (RBI) started on August 8 will conclude on Thursday (August 10). Besides, positive global cues also underpinned sentiment.
Major European markets were trading with healthy gains when Sensex closed. European stocks rose after Italy said that the new windfall tax on banks would not amount to more than 0.1 per cent of their assets. Italy announced a 40 per cent windfall tax on banks for the year 2023.
Sensex opened 36 points lower at 65,810.96 against the previous close of 65,846.50. The index remained in the red for the most part of the day, falling 402 points to hit the intraday low of 65,444.38. However, fag end buying saved the index from ending in the negative territory.
A late recovery in the domestic market was supported by a positive uptick in the European market and hope of an optimistic RBI policy not impacting domestic economic growth. Economists believe the RBI will maintain a status quo on rates and stance. Sensex closed 149 points, or 0.23 per cent, higher at 65,995.81 while the Nifty closed the day at 19,632.55, up 62 points, or 0.32 per cent.
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