FIIs invest ₹164 crore in Indian equities, DIIs infuse ₹1,938 crore as Sensex, Nifty scale lifetime highs

According to the NSE data, FIIs bought cumulatively ₹9,870 crore of Indian ordinary shares, while selling ₹9,575.31 crore — resulting in an inflow of ₹294.69 crore. Meanwhile, infusion of DIIs ₹6,943.14 crore and unloaded ₹6,993.94 crore, registering an outflow of ₹50.80 crore.

On Friday, domestic equity benchmarks Sensex and Nifty rose to fresh lifetime highs, buoyed by a rally in global markets and renewed foreign capital inflows. The Sensex closed at 67,838.63, up 320 points, or 0.47 percent, while the Nifty settled at 20,192.35, up 89 points, or 0.44 percent.

Both indices ended at their fresh closing highs. The Sensex rose for the eleventh straight session, adding 4.64 per cent over the period, logging its longest streak of daily gains since October 3, 2007. On the weekly front, the benchmark BSE jumped 1,239.72 points or 1.86 per cent, and the Nifty climbed. 372.4 points or 1.87 percent.

Besides, buying in telecom, auto and technology stocks helped markets settle for gains, traders said. Auto stocks climbed 1.58 percent to a record high, driven by a 5.9 percent jump in Bajaj Auto after BofA Global Research upgraded the stock to “buy” from “neutral.” The top IT-weighted index rose 0.94 percent, helped by rising expectations of a rate hike pause from the US Federal Reserve next week.

Where is Nifty headed?

Rupak De, Senior Technical Analyst at LKP Securities, said Nifty continued to show strength as the index touched new highs. “Strong Put writing at 20,100 has added to positive sentiment in the market. The trend is expected to remain positive as long as the Nifty remains above the 20,000 mark. In the short term, the Nifty could move towards the 20,480-20,500 range on the upside,” said De.

Updated: 15 September 2023, 08:50 PM IST