Fund flow today | FIIs sell Indian stocks worth ₹84.55 crore, DIIs buy for ₹524.47 crore
Indian stock indices edged higher on Wednesday after a choppy session amid weak cues from Asian and European markets. Foreign institutional investors (FIIs) on Wednesday sold stocks of Indian companies worth ₹7,551.57 crore and bought stocks for ₹7,467.02 crore, resulting in an outflow of ₹84.55 crore, according to NSE data. Domestic institutional investors (DIIs) bought equities worth ₹7,548.90 crore and offloaded shares worth ₹7,024.43 crore, resulting in an inflow of ₹524.47 crore, the exchange data showed.
Dr. V.K. Vijayakumar, chief investment strategist at Geojit Financial Services, said: “The tug of war between the FIIs and DIIs continues with sustained selling by the FIIs and sustained buying by the DIIs.
Since the buy on dips strategy is working, retail investors are buying in the broader market on every dip. There is no selling pressure in the broader market since FII selling is confined to large caps." The BSE 30-share Sensex added 33.21 points, or 0.05%, to end at 64,975.61. During the day, it hit a high of 65,124 and a low of 64,851.06.
The broader NSE Nifty rose by 36.80 points, or 0.19%, to close at 19,443.50 with 29 of its components closing in green and the rest 21 in red. Prashanth Tapse, senior VP (research) at Mehta Equities Ltd, said: “NIFTY closed with a gain of 37 points at 19444, while Sensex increased by 46 points to reach 64989. showing a positive trend as investors eagerly anticipated Fed Chairman Jerome Powell's upcoming speech.
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