2 hrs ago
FIIs Sell ₹6,121 Crore as Indian Markets End Winning Streak
Foreign investors sold more shares than they bought on Wednesday.
Indian domestic institutions bought more shares than they sold.
Even so, the market’s main indexes fell, ending two days of gains.
The article says a Reserve Bank of India rate hike and cautious comments made investors less confident.
The rupee also weakened against the dollar, reaching a five-month low.
Some kinds of shares, including realty and auto stocks, fell.
Kotak Mahindra Bank shares rose, and Kalyan Jewellers also gained after an update about its business.
Overall, the day had more pressure on the market than support.
Foreign institutional investors were net sellers of ₹6,121.37 crore in Indian equities on Wednesday, while domestic institutions were net buyers of ₹4,596.57 crore.
FII selling rose from ₹2,961.30 crore on Tuesday and ₹4,699.14 crore on Monday; DII buying eased from Tuesday’s ₹5,088.92 crore.
The Nifty fell 173 points to 22,603 and the Sensex dropped 429 points to 72,639, ending a two-day gaining streak.
The article says the Reserve Bank of India’s 25-basis-point rate hike and cautious commentary weighed on sentiment; the rupee also fell to a five-month low of 96.78 per dollar.
Rate-sensitive realty and auto shares declined, while Kotak Mahindra Bank gained 2% and Kalyan Jewellers rose 4% after its Q2 update.
- Who
- Foreign institutional investors and domestic institutional investors traded Indian equities; the Reserve Bank of India’s rate decision also affected sentiment.
- What
- FIIs were net sellers of ₹6,121.37 crore, DIIs were net buyers of ₹4,596.57 crore, and the Nifty and Sensex fell.
- Where
- Indian equity markets.
- When
- Wednesday; no calendar date is specified.
- Why
- The article says the Reserve Bank of India’s 25-basis-point rate hike and cautious commentary weighed on market sentiment.
Key facts
- FII net selling
- ₹6,121.37 crore on Wednesday, provisional
- DII net buying
- ₹4,596.57 crore on Wednesday
- Nifty close
- 22,603, down 173 points
- Sensex close
- 72,639, down 429 points
- Rupee
- 96.78 per dollar, a five-month low
- Rate decision
- The Reserve Bank of India raised rates by 25 basis points
- Market streak
- The market ended its two-day gaining streak
Sources
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