FIIs Turn Net Sellers; Offload Rs 2,080 Crore As DIIs Stay Strong Buyers

Foreign institutional investors (FIIs), who were net buyers in Indian markets last week, turned net sellers this week, dumping Rs 2,080 crore, according to provisional exchange data.

In the Indian markets, domestic institutional investors (DIIs) were net buyers and bought shares worth Rs 11,100 crore.

FIIs have sold Rs 45,130 crore in June, whereas DIIs bought Rs 76,160 crore.

Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking, stated, “In the current truncated week, FIIs were net buyers in two out of the four trading sessions of the week. DIIs remained net buyers for all four sessions during last week.”

Stock Indices traded in a range and closed marginally higher to gain for the third consecutive week.

The analyst noted that with geopolitical tensions easing and Brent crude dropping below $75, investors felt less worried about inflation.

“Concerns regarding the slow progress of the monsoon remained on investors’ radar and capped the upside during the week,” added the market analyst.

Indian markets saw modest foreign investor (FII) buying last week, with net inflows of about Rs 380 crore on June 25. Domestic investors (DIIs) also continued to support the market rally.

Vinit Bolinjkar, Head of Research- Ventura, said, “Given steady global cues, easing crude and a resilient domestic macro backdrop, expect a cautiously positive near-term outlook — range-bound upside with sectoral leadership from financials, tech and select cyclicals — but keep an eye on global risk sentiment and earnings cues for directional conviction.”

Nifty in the meantime began the week strong, but mid-week profit booking pulled the index down to an intra-week low of 23,785.

The index, however, bounced back in the second half of the week, ending slightly higher by 0.2% at 24,056.

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