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FII outflow moderates to ₹252 crore, DIIs infuse ₹823 crore with Nifty 50 up 1% on week; What lies ahead?


Foreign institutional investors (FIIs) continued to sell on Friday, November 10, although volume eased due to a hawkish pause in interest rates by the US Federal Reserve as well as a decline in crude oil prices. The domestic institutional investors (DIIs) tried to counterbalance the sell-off as emerging net buyers folded in 823 crore in Indian stocks today.

According to the NSE data, FIIs bought cumulatively 6,583.57 crore of Indian equities, and sell them 6,845.38 crore — resulting in an outflow of 261.81 crore on Friday. Meanwhile, DIIs invested 6,239.42 crore and unloaded 5,416.78 crore, registering an inflow of 822.64 crore.

FIIs have sold Indian equities since October on record US bond yields, the strength of the dollar index, and geopolitical risks due to the Israel-Hamas war. These combined factors have since weighed on market sentiment. Foreign inflows continue to be muted due to rising interest rate concerns and a global slowdown.

With selling streak to reverse soon, FIIs may turn buyers

Analysts believe that the Indian market continues to show resilience even in the midst of various challenges and there is a growing concern among foreign investors that if they continue to sell, they will lose out on the potential crowd in the Indian market. This may restrict the FIIs from selling heavily in the coming days.

“The texture of the Indian market suggests that the “buy on dips” strategy will continue to work. In Samvat 2080, Financials are likely to do well backed by attractive valuations and significant growth. The sustained FII sell-off in finance, which has an impact on the sector, will only be temporary,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

“The FOMO (Fear of Missing Out) factor is likely to restrain the FIIs from aggressive selling. This will be favorable for the financial sector which is under the pressure of FII selling,” said Dr VK Vijayakumar.


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Updated: 10 November 2023, 07:25 PM IST

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