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What is the story about?
Domestic institutional investors (DIIs) provided strong support to Indian equities on Wednesday, emerging as net buyers while foreign institutional investors (FIIs) turned net sellers.
DIIs purchased shares worth ₹17,274.01 crore and sold equities worth ₹13,636.75 crore, resulting in a net inflow of ₹3,637.26 crore. FIIs, meanwhile, bought shares worth ₹16,744.73 crore and sold equities worth ₹18,588.13 crore, leading to a net outflow of ₹1,843.40 crore, according to provisional exchange data.
The latest FII outflow comes a day after foreign investors had turned marginal net buyers. On Tuesday, FIIs recorded net purchases of ₹17.86 crore, buying equities worth ₹15,396.07 crore and selling shares worth ₹15,378.21 crore. The reversal in flows on Wednesday underscored the continued caution among overseas investors despite the broader market rally.
Benchmark indices ended sharply higher, shrugging off foreign outflows. The BSE Sensex rose 791 points to close at 76,991, while the Nifty 50 gained 198 points to settle at 24,022, near the day's high.
The rally was led by heavyweight banking and information technology stocks, with ICICI Bank, HDFC Bank and Infosys among the key contributors. The Nifty IT index also advanced after Axis Capital upgraded eight IT stocks.
Banking shares further lifted sentiment, with the Nifty Bank index surging more than 1.5%, or 967 points, to close at 58,150. Nearly all banking constituents ended in positive territory, helping the broader market maintain its upward momentum.
The Indian rupee also strengthened during the session, appreciating 11 paise to settle at 94.65 against the US dollar.
Also Read: RBI issues final forex risk framework for banks; Here's what changes
DIIs dominate flows this week
Domestic institutional investors have remained the dominant buyers so far this week, recording cumulative net purchases of ₹5,353.19 crore between June 22 and June 24.
Foreign institutional investors, on the other hand, have been net sellers to the tune of ₹2,461.45 crore during the same period, with only a marginal inflow recorded on June 23.
Also Read: Explained: What is Section 301 and why is India concerned about it?
DIIs purchased shares worth ₹17,274.01 crore and sold equities worth ₹13,636.75 crore, resulting in a net inflow of ₹3,637.26 crore. FIIs, meanwhile, bought shares worth ₹16,744.73 crore and sold equities worth ₹18,588.13 crore, leading to a net outflow of ₹1,843.40 crore, according to provisional exchange data.
The latest FII outflow comes a day after foreign investors had turned marginal net buyers. On Tuesday, FIIs recorded net purchases of ₹17.86 crore, buying equities worth ₹15,396.07 crore and selling shares worth ₹15,378.21 crore. The reversal in flows on Wednesday underscored the continued caution among overseas investors despite the broader market rally.
Benchmark indices ended sharply higher, shrugging off foreign outflows. The BSE Sensex rose 791 points to close at 76,991, while the Nifty 50 gained 198 points to settle at 24,022, near the day's high.
The rally was led by heavyweight banking and information technology stocks, with ICICI Bank, HDFC Bank and Infosys among the key contributors. The Nifty IT index also advanced after Axis Capital upgraded eight IT stocks.
Banking shares further lifted sentiment, with the Nifty Bank index surging more than 1.5%, or 967 points, to close at 58,150. Nearly all banking constituents ended in positive territory, helping the broader market maintain its upward momentum.
The Indian rupee also strengthened during the session, appreciating 11 paise to settle at 94.65 against the US dollar.
Also Read: RBI issues final forex risk framework for banks; Here's what changes
DIIs dominate flows this week
Domestic institutional investors have remained the dominant buyers so far this week, recording cumulative net purchases of ₹5,353.19 crore between June 22 and June 24.
| Date | FII Net Flow (₹ Cr) | DII Net Flow (₹ Cr) |
|---|---|---|
| June 24 | -1,843.40 | 3,637.26 |
| June 23 | 17.86 | 680.21 |
| June 22 | -635.91 | 1,035.72 |
Foreign institutional investors, on the other hand, have been net sellers to the tune of ₹2,461.45 crore during the same period, with only a marginal inflow recorded on June 23.
Also Read: Explained: What is Section 301 and why is India concerned about it?
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