FIIs invest ₹6,646 crore in Indian stocks this week; DIIs settle as net buyers
Foreign institutional investors (FIIs) ended this week on a strong note with an inflow of ₹6,646 crore in Indian equities. However, on Friday, FIIs investment slowed to ₹795 crore in Indian equities. Today, markets rebounded driven by positive global cues, and strong buying in banking, capital goods, consumer durables, FMCG, and healthcare stocks. In case of the domestic institutional equities (DIIs), they also ended the week as net buyers.
As per NSE data, cumulatively, FIIs bought ₹17,939.03 crore worth of Indian equities, while they sold ₹17,144.25 crore — registering an inflow of ₹794.78 crore.
Meanwhile, DII buying value stood at ₹7,945.59 crore on Friday, while they offloaded ₹7,264.26 crore worth of equities — recording an outflow of ₹681.33 crore.
During June 16th session, Sensex ended at 63,384.58, up by 466.95 points or 0.74%. Nifty 50 closed at 18,826 higher by 137.90 points or 0.74%. Now, the 30-scrip benchmark is very close to its lifetime high of 63583.07, while the Nifty 50 is also a couple of points away from its historic high of 18,887.60.
Talking about the latest market performance, Ajit Mishra, SVP – of Technical Research, at Religare Broking said, “Markets surged strongly on Friday and inched closer to the record high, tracking firm global cues. After the firm start, the Nifty index hovered in a narrow band in the first half however a sharp surge in the latter half helped the index to test 18,864.70 but it finally settled at 18,826 levels. Recovery in banking and financials combined with buying in FMCG, pharma, and energy majors largely aided the rebound. Besides, the continued buying in midcap and smallcap space further added to the positivity.”
On the previous day, FIIs made a strong buying of ₹3,085.51 crore, while DIIs sold ₹297.88 crore.
Except for June 12th, FIIs have been buyers throughout the latest week. This was the opposite for DIIs! The domestic investors bought on June 12 and 16th but were sellers in the remaining days of the week.
Overall, in the trading week that ended on June 16th, FIIs pumped in ₹6,645.99 crore in Indian equities, while DIIs invested ₹1319.21 crore.
During this week, Sensex soared by 700.50 points or 1.12%. While Nifty 50 zoomed by 230.55 points or 1.24%.
For the coming week, Mishra said, “The buoyancy in the global markets, especially the US, is helping the index to maintain a bullish tone amid mixed domestic cues. We reiterate our positive view but suggest limiting positions citing intermediate choppiness. Instead of waiting for a new high in the index, we feel participants should maintain their focus on identifying stock-specific trading opportunities.”
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
Updated: 16 Jun 2023, 05:49 PM IST
