₹6,934.93 crore on Wednesday seemed to support Sharma’s assertion. To be sure, FPIs closed out their negative bets on Nifty and Bank Nifty futures to a cumulative 8,556 contracts on Wednesday from 18,829 contracts a day earlier.
Closing out shorts added some heft to the provisional domestic institutional investor (DII) inflows of ₹6,012.67 crore. The National stock Exchange’s 50-share Nifty closed 1% higher on Wednesday.
After buying shares worth ₹1.71 trillion in the calendar to December 2023, FPIs have sold shares worth ₹19,308 crore in January so far. One of the reasons, apart from disappointing results from bluechips such as HDFC Bank, Infosys and Hindustan Unilever, was the looming deadline that was estimated to affect ₹2.5 trillion of holdings held by specified FPIs.
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