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What is the story about?
Foreign institutional investors (FIIs) remained net sellers in the Indian equity market on Thursday, offloading shares worth ₹311.82 crore, according to provisional exchange data. Domestic institutional investors (DIIs), meanwhile, continued to support the market, emerging as net buyers to the tune of ₹1,784.40 crore.
Provisional exchange data showed FIIs purchased shares worth ₹14,018.40 crore and sold shares worth ₹14,330.22 crore during the day, resulting in a net outflow of ₹311.82 crore. DIIs bought equities worth ₹17,391.61 crore and sold shares worth ₹15,607.21 crore, leading to a net inflow of ₹1,784.40 crore.
Thursday marked the fourth consecutive session of FII selling. Overseas investors had sold equities worth ₹1,140.50 crore on Wednesday, following an outflow of ₹2,557 crore on Tuesday, according to provisional data cited earlier.
DIIs remained on the buying side for yet another session, although the pace of purchases moderated. Domestic institutions bought equities worth ₹1,784.40 crore on Thursday, compared with net purchases of ₹3,159.24 crore on Wednesday. In the previous session, DII buying had also eased from ₹6,842 crore recorded a day earlier.
Despite continued foreign outflows, domestic institutional participation remained positive, helping absorb selling pressure in the market.
Also Read: Big investor looks to sell 2.6% stake in Policybazaar parent PB Fintech
The benchmark equity indices ended largely higher on Thursday. The Sensex rose 579 points, while the Nifty closed above the 24,150 mark. Gains in information technology stocks, strength in downstream oil companies and positive market breadth supported the market's advance during the session.
The rupee pared its initial gains and settled 18 paise lower at 95.34 (provisional) against the US dollar on Thursday, as support from easing crude oil prices was negated by robust dollar demand from importers and corporate hedgers.
Also Read: FIIs sell over ₹5,000 crore in three days; DIIs continue to cushion markets
Provisional exchange data showed FIIs purchased shares worth ₹14,018.40 crore and sold shares worth ₹14,330.22 crore during the day, resulting in a net outflow of ₹311.82 crore. DIIs bought equities worth ₹17,391.61 crore and sold shares worth ₹15,607.21 crore, leading to a net inflow of ₹1,784.40 crore.
Thursday marked the fourth consecutive session of FII selling. Overseas investors had sold equities worth ₹1,140.50 crore on Wednesday, following an outflow of ₹2,557 crore on Tuesday, according to provisional data cited earlier.
DIIs remained on the buying side for yet another session, although the pace of purchases moderated. Domestic institutions bought equities worth ₹1,784.40 crore on Thursday, compared with net purchases of ₹3,159.24 crore on Wednesday. In the previous session, DII buying had also eased from ₹6,842 crore recorded a day earlier.
Despite continued foreign outflows, domestic institutional participation remained positive, helping absorb selling pressure in the market.
Also Read: Big investor looks to sell 2.6% stake in Policybazaar parent PB Fintech
The benchmark equity indices ended largely higher on Thursday. The Sensex rose 579 points, while the Nifty closed above the 24,150 mark. Gains in information technology stocks, strength in downstream oil companies and positive market breadth supported the market's advance during the session.
The rupee pared its initial gains and settled 18 paise lower at 95.34 (provisional) against the US dollar on Thursday, as support from easing crude oil prices was negated by robust dollar demand from importers and corporate hedgers.
Also Read: FIIs sell over ₹5,000 crore in three days; DIIs continue to cushion markets
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