Fund flow today | FIIs sell Indian stocks worth ₹1,261.19 crore, DIIs buy for ₹1,380.15 crore

Indian stocks rebounded on Thursday, snapping their two days of losses following a rally in global markets after the US Federal Reserve kept interest rates unchanged.

Foreign institutional investors (FIIs) on Thursday sold stocks of Indian companies worth ₹9,118.46 crore and bought stocks for ₹7,857.27 crore, resulting in an outflow of ₹1,261.19 crore, according to NSE data.

Domestic institutional investors (DIIs) bought equities worth ₹7,012.69 crore and offloaded shares worth ₹5,632.54 crore, resulting in an inflow of ₹1,380.15 crore, the exchange data showed.

The BSE 30-share Sensex jumped 489.57 points, or 0.77%, to settle at 64,080.90. During the day, it rallied 611.31 points, or 0.96%, to 64,202.64.

The broader Nifty climbed 144.10 points, or 0.76%, at 19,133.25. 

Prashanth Tapse, senior VP (research) at Mehta Equities Ltd, said: “The US Federal Reserve’s decision to keep policy rates unchanged fuelled a global rally and helped benchmark indices reverse their 2-day losing streak. Across the board buying propelled Sensex to close above the 64k-mark, as investors cheered the US Fed decision in the backdrop of rising global uncertainty further worsened by the ongoing conflict in West Asia, higher inflation and strong FII fund outflows. Also helping bullish sentiments were the WTI crude oil futures which tumbled to $81 per barrel.”

In the previous two sessions, Nifty dropped nearly 152 points while Sensex shed 521 points.

In the broader market, the BSE midcap gauge jumped 1.20% and smallcap gained 0.97%.

All the indices ended with gains, with realty rallying 2.55%, telecom jumping 2.42%, metal (1.68%), power (1.60%), capital goods (1.15%), consumer durables (1.13%), commodities (1.10%).

“There is a possibility that the FIIs who were sustained sellers in October may turn buyers and if that happens, short-covering can take markets higher despite the uncertainty surrounding the Israel-Hamas conflict,” said Dr. V.K. Vijayakumar, chief investment strategist at Geojit Financial Services. 

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Updated: 02 Nov 2023, 08:14 PM IST