Fund flow today | FIIs sell Indian stocks worth ₹1,816.91 crore, DIIs buy for ₹1,622.05 crore
Indian equity indices fell for the second day in a row on Wednesday on selling in metal, power, auto and banking stocks. Foreign institutional investors (FIIs) on Wednesday sold stocks of Indian companies worth ₹8,491.17 crore and bought stocks for ₹6,674.26 crore, resulting in an outflow of ₹1,816.91 crore, according to NSE data. Domestic institutional investors (DIIs) bought equities worth ₹7,617.09 crore and offloaded shares worth ₹5,995.04 crore, resulting in an inflow of ₹1,622.05 crore, the exchange data showed.
The BSE 30-share Sensex declined 283.60 points, or 0.44%, to end at 63,591.33. During the day, it fell 324.47 points, or 0.50%. The Nifty edged down by 90.45 points, or 0.47%, at 18,989.15.
Prashanth Tapse, senior VP (research) at Mehta Equities Ltd, said: “Investors continued to trade with caution and trimmed their equity exposure as markets extended fall for the second straight session amid selling in metal, power, auto and banking stocks while gains in telecom stocks curbed losses. FIIs offloading shares in the domestic market continues to hurt sentiment while strong US growth indicators indicate that interest rates may stay elevated going ahead. Investors sentiment was also primarily clouded by lingering concerns about corporate India’s Q2 earnings which as of now is uninspiring." FIIs offloaded equities worth ₹696.02 crore on Tuesday.
In October, manufacturing activity fell at 8-month low as new orders increased at the slowest pace in a year, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in September to 55.5 in October, the slowest rate of expansion since February. “Domestic equities stumbled after India’s
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