Fund flow today | FIIs sell Indian stocks worth ₹1,816.91 crore, DIIs buy for ₹1,622.05 crore

Indian equity indices fell for the second day in a row on Wednesday on selling in metal, power, auto and banking stocks.

Foreign institutional investors (FIIs) on Wednesday even sold stocks of Indian companies ₹8,491.17 crore and bought stocks for ₹6,674.26 crore, resulting in an outflow ₹1,816.91 crore, according to NSE data.

Domestic institutional investors (DIIs) bought equity value ₹7,617.09 crore and unloaded share value ₹5,995.04 crore, leaving an inflow of ₹1,622.05 crore, the exchange data showed.

The 30-share BSE Sensex fell 283.60 points, or 0.44%, to end at 63,591.33. During the day, it fell 324.47 points, or 0.50%.

The Nifty edged down 90.45 points, or 0.47%, at 18,989.15.

Prashanth Tapse, Senior Vice President (research) at Mehta Equities Ltd said: “Investors continued to trade cautiously and cut their equity exposure as the fall in markets for the second straight session intensified amid sell-off in stocks metals, power, autos and banking as they take profits. telecommunication stock restriction of losses. FIIs selling shares in the domestic market continue to hurt sentiment and strong US growth indicators indicate that interest rates may remain elevated going forward. Investor sentiment was also mainly subdued due to lingering concerns about India’s Q2 corporate earnings, which are currently not encouraging.”

FIIs unloaded the value of equities ₹696.02 crore on Tuesday.

In October, manufacturing activity fell to an 8-month low as new orders increased at the slowest pace in a year, a monthly survey said Wednesday.

India’s seasonally adjusted S&P Manufacturing Purchasing Managers’ Index (PMI) fell from 57.5 in September to 55.5 in October, the slowest rate of expansion since February.

“Domestic equities weakened as India’s manufacturing activity fell to an 8-month low of 55.5 in October. Nifty traded in negative territory to close near the day’s low with a loss of 90 points at 18989 levels. Sector-wise, it was a mixed bag with buying seen in Pharma, Realty, Oil & Gas and PSU banks. ended in red. Markets on Thursday would react to the US Fed interest rate decision and the release of economic data throughout the day. Chairman Jerome Powell’s comments will be watched as it will provide insights into the Fed’s next move,” said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services Ltd.

“Exciting news! WhatsApp Channels are now mint 🚀 Subscribe today by clicking the link and stay up to date with the latest financial insights!” Click here!

Updated: 01 November 2023, 06:25 PM IST