Fund flow today | FIIs buy stocks worth ₹3,570.07 crore amid market rally
Indian shares rallied more than 1% to hit record highs on Thursday. The rally was prompted by intense buying in IT, tech and realty stocks after the US Federal Reserve left interest rate unchanged.
Persistent buying by foreign investors also supported the market sentiments.
Foreign institutional investors (FIIs) sold stocks of Indian companies worth ₹17,510.33 crore and bought stocks for ₹21,080.40 crore, resulting in an inflow of ₹3,570.07 crore, according to NSE data.
Domestic institutional investors (DIIs) bought equities worth ₹12,118.30 crore and offloaded shares worth ₹11,565.13 crore, resulting in an inflow of ₹553.17 crore, the exchange data showed.
On Wednesday, FIIs’ net inflow was recorded at ₹4,710.86 crore, while DIIs’ net outflow was recorded at ₹958.49 crore.
The BSE 30-share Sensex jumped 929.60 points, or 1.34%, to end at an all-time closing high of 70,514.20. During the day, it surged 1,018.29 points, or 1.46%, to touch its all-time intra-day high of 70,602.89.
The NSE Nifty climbed 256.35 points, or 1.23%, to close at a record high of 21,182.70. During the session, it jumped 284.55 points, or 1.35% to 21,210.90.
Vinod Nair, head of research at Geojit Financial Services, said: “The market continued its exuberance and hit a fresh high amid the dovish commentary from the Federal Reserve, signalling at least three rate cuts in 2024. Further, the sharp fall in US bond yields improved investors’ confidence. An upgrade in India’s GDP forecast, ease in global oil prices, and the RBI decision to clamp down inflation to the target level, led to a broad-based rally with outperformance from Realty and IT.”
In the broader market, the BSE midcap jumped 1.06% and smallcap climbed 0.62%.
Among the sectoral indices, realty rallied 3.80%, IT jumped 3.21%, realty (3.80%), technology (2.72%), telecommunication (2.14%), financial services (1.38%), oil & gas (1.36%) and energy (1.28%).
Consumer Durables was the only laggard.
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Published: 14 Dec 2023, 08:29 PM IST
