Fund flow today | FIIs sell Indian stocks worth ₹306.56 crore, DIIs buy for ₹721.24 crore
ITC and Reliance Industries shares. Foreign institutional investors (FIIs) on Wednesday sold stocks of Indian companies worth ₹8,418.29 crore and bought stocks for ₹8,111.73 crore, resulting in an outflow of ₹306.56 crore, according to NSE data. Domestic institutional investors (DIIs) bought equities worth ₹6,749.42 crore and offloaded shares worth ₹6,028.18 crore, resulting in an inflow of ₹721.24 crore, the exchange data showed.
The 30-share BSE Sensex gained 92.47 points, or 0.14%, to end at 66,023.24. During the day, it fell to a low of 65,664.85 and touched a high of 66,063.43. The Nifty edged higher by 28.45 points, or 0.14%, to 19,811.85.
Vinod Nair, head of research at Geojit Financial Services, said: “Despite FED (US Federal Reserve) adopting a cautious stance in its minutes and refraining from indicating a rate cut, the market recovered from the day’s correction and ended with mild gain. On the other hand, the broad market witnessed some profit booking as investors' focus shifted to the primary market, marked by a set of IPOs scheduled for this week. However, the undercurrent is positive, with a cooling of inflation and an easing US bond yield supporting a short- to medium-term rally." In the broader market, the BSE midcap index climbed 0.33% and smallcap index declined 0.63%.
Among the sectoral indices, power jumped 1.41%, auto climbed 0.64%, tech (0.52%), FMCG (0.34%), capital goods (0.38%) and oil & gas (0.36%). Commodities, financial services, industrials, telecommunication and bankex indices were among the losers. The Indian rupee ended slightly higher on Wednesday aided by IPO-related inflows.
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