FIIs, DIIs Remain Net Buyers as Indian Market Extends Losing Streak to Seventh Straight Day
Key Takeaways
- •Foreign institutional investors and domestic institutional investors together recorded a combined net purchase of ₹4,381.71 crore in Indian equities on Wednesday.
- •Indian benchmarks fell for a seventh straight session, with the Sensex declining 326 points to 76,910 and the Nifty 50 dropping 77 points to 24,078.
- •Information technology stocks erased their opening gains after brokerage CLSA downgraded most large-cap names in the sector.
- •Financial stocks relatively outperformed the broader market, with the Nifty Bank index ending near the flatline after slipping 23 points to 57,240.
- •Capital goods and defence shares led the declines among midcaps, with Hitachi and CG Power among top losers and Bharat Dynamics falling 3%.
FIIs, DIIs Remain Net Buyers as Indian Market Extends Losing Streak to Seventh Straight Day
Foreign institutional investors (FIIs) and domestic institutional investors (DIIs) stayed on the buying side of Indian equities on Wednesday, together recording a combined net purchase of ₹4,381.71 crore even as the market extended its losing streak to a seventh consecutive session.
FIIs are overseas funds — such as mutual funds, pension funds and asset managers — that invest in Indian markets, while DIIs include domestic mutual funds, insurers and other local institutional players. Daily purchase and sale figures for both groups are published by the exchanges and widely tracked as an indicator of institutional flows into Indian equities. The two groups often move in opposite directions, with domestic institutions at times absorbing shares sold by foreign funds, so a combined net-buy reading on a falling day is one of the signals market participants watch to gauge how large investors are positioned while prices slide. Because the disclosures come out every trading day, the flow data for the coming sessions will show whether the buying held through the remainder of the losing streak.
Benchmark indices
The BSE Sensex, the 30-stock benchmark index of the Bombay Stock Exchange, fell 326 points to 76,910, while the NSE Nifty 50, the National Stock Exchange's benchmark of 50 large companies, declined 77 points to 24,078. The Nifty Bank index, which tracks major banking stocks, slipped 23 points to 57,240, and the Midcap index dropped 131 points to 63,409.
Sector moves
Information technology, one of the heavyweight sectors in the benchmark indices, saw stocks erase their opening gains after brokerage CLSA downgraded most large-cap names in the sector. Financial stocks relatively outperformed, with the Nifty Bank ending near the flatline.
Capital goods stocks saw a sharp fall, with Hitachi and CG Power among the top losers. Defence stocks were also among the top midcap losers, with Bharat Dynamics (BDL) declining 3%.
Source: CNBC-TV18 Markets
