FIIs sell over ₹2,300 crore on Thursday; DIIs extend buying streak to 18th session

Domestic Institutional Investors (DIIs) continued to support the market, buying equities worth a net ₹4,977.46 crore on Thursday. This marked their 18th consecutive session of net buying.

DII buying was stronger than in the previous session. They bought shares worth ₹17,063.65 crore and sold ₹12,086.19 crore, taking their net buying to ₹4,977.46 crore, compared with ₹2,812.98 crore on Wednesday.

Meanwhile, Foreign Institutional Investors (FIIs) turned net sellers in Indian equities on Thursday, selling ₹2,345.87 crore, according to provisional data.

FIIs bought equities worth ₹13,596.04 crore during the session and sold shares worth ₹15,941.91 crore.

FIIs had reported net buying of ₹6,688.37 crore in equities on September 2, according to provisional data, nearly six times the ₹1,143.38 crore they purchased in the previous session. However, after accounting for certain adjustments, FIIs were actually net sellers in the cash market.

Also Read: FIIs were net sellers on Wednesday despite numbers suggesting otherwise - Explained

Separately, Indian benchmark indices ended lower on Thursday after failing to sustain their opening gains, with the Nifty declining 41 points to 23,873 and the Sensex falling 417 points to 76,153. The broader market outperformed, with the advance-decline ratio on the NSE favouring advances at 3:2.

The Nifty Bank gained 29 points to 57,381, while the Midcap index rose 234 points to 63,235. On the weekly expiry day, the Sensex saw an adjustment of more than 400 points following the closing auction session (CAS).

Banks lent support to the market, with Axis Bank and HDFC Bank among the top Nifty gainers. RBL Bank and IDFC First Bank also gained as investors tracked reports of large FCNR deposits, with both stocks rising up to 5%.

Adani Ports ended around 2% higher after reacting positively to a brokerage note. Capital market plays, including BSE and Angel One, also moved higher, with BSE gaining 4%.

On the downside, Godrej Consumer Products fell 3% after inventory concerns emerged from its analyst meet. Ather Energy extended Wednesday’s losses, ending 3% lower.

Air-conditioning companies Blue Star and Voltas saw buying interest, gaining up to 3%. Inox Wind surged 5% following an order win, while Solar Industries gained 4% amid reports of an acquisition in the international market.

Hikal, Raymond, Brigade Enterprises and Shanti Gears were among the other notable gainers, rising as much as 20% on healthy volumes.

Meanwhile, the rupee strengthened to a two-month high, tracking large FCNR flows.

Also Read: FIIs pump ₹6,688 crore into Indian shares, nearly six times Tuesday’s buying