Fund flow today | FIIs buy shares worth ₹76.86 crore as markets fall

Indian stocks closed lower on Tuesday ahead of the release of inflation and Index of Industrial Production (IIP) data. 

Foreign institutional investors (FIIs) sold stocks of Indian companies worth 15,960.23 crore and bought stocks for 16,037.09 crore, resulting in an inflow of 76.86 crore, according to NSE data.

Domestic institutional investors (DIIs) bought equities worth 12,206.24 crore and offloaded shares worth 10,282.92 crore, resulting in an inflow of 1,923.32 crore, the exchange data showed.

On Monday, FIIs’ net inflow was recorded at 1,261.13 crore, while DIIs’ net outflow was recorded at 1,032.92 crore.

The BSE 30-share Sensex fell by 377.50 points, or 0.54%, to end at 69,551.03. During the day, it declined 484.68 points, or 0.69%, to 69,443.85.

The NSE Nifty declined by 90.70 points, or 0.43%, to 20,906.40. In intra-day trade, it hit a record high of 21,037.90. 

Vinod Nair, head of research at Geojit Financial Services, said: “Following the recent impressive surge, the Nifty 50 has undergone a consolidation phase today due to anticipated elevated November inflation in India, driven by rising food prices, which may potentially delay RBI policy cuts. In contrast, the US inflation outlook remains stable, which could influence the upcoming US Fed policy.”

“The Nifty Mid and Small indices, with robust rallies of 42% and 49% on a YTD basis, now carry a 25% premium to their long-term averages, signalling potential valuation concerns. Though the domestic growth outlook remains strong, the risk of EL-Nino is expected to keep the market under pressure,” added Nair.

In the broader market, the BSE midcap fell 0.40% and smallcap index declined 0.27%.

Among the sectoral indices, oil & gas went down by 1.84%, realty fell by 1.82%, energy (1.68%), utilities (1.49%), consumer durables (1.18%), capital goods (1.10%) and industrials (0.94%).

IT, metal and services were the gainers. 

The Indian rupee ended little changed on Tuesday against the US dollar.

The rupee closed at 83.3875 against the US dollar, barely changing from its close at 83.3925 in the previous session.

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Published: 12 Dec 2023, 08:12 PM IST

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