FIIs net sellers, DIIs buyers: Indian stock market ends on positive note

FIIs purchased shares worth a net of 13,922.01 crore rupees for the month up to July 31, while DIIs sold shares worth a net of 1,184.33 crore rupees. Whereas, the India’s foreign exchange reserves fell by $1.9 billion for the week ended July 21 to $607.03 billion, according to Reserve Bank of India figures released on Friday.

The Indian stock market finished the trading session on a positive note, with the Sensex gaining 367 points and closing at 66,527.67. The Nifty also finished on a strong note, rising 107 points to 19,753.80, indicating investor optimism. The Nifty Midcap and Nifty Small Cap indices both performed well, closing 0.97 percent and 0.88 percent higher, highlighting the strength in the mid and small-cap segments.

Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services said, “After two days of pause, Domestic equities resumed their uptrend as sentiments improved after data showed an easing in US inflation and better-than-expected China manufacturing data. Nifty opened higher and gained momentum throughout the session to close with gains of 108 points at 19754 levels. Broader market closed with gains of 1%. All sectors ended in the green, except for FMCG and Healthcare. Metals, IT, Auto, oil & Gas, and Consumer Durables ended with gains of more than 1%. Indian Equities ended positively for the fourth consecutive month with Nifty gaining 2.9% on the back of a healthy Q1 earning season, a 6% surplus in rainfall, and positive FIIs flow during the month ( ₹14623cr till 28th July). Going ahead, we expect the market to continue its northbound journey with phases of consolidation. The power sector remains in focus after NTPC reported strong quarterly results. Auto stocks will be in action as companies are likely to release improving monthly sales numbers, especially 2W and CV segment.”

Updated: 31 Jul 2023, 10:54 PM IST