13 hrs ago
Indian Stocks Extend Losing Streak as Foreign Investors Keep Selling
Foreign investors continued selling shares in India on Friday.
Indian domestic institutions bought more shares, helping limit the market’s decline.
The Sensex and Nifty still fell for the fifth week in a row.
This was their longest losing streak in 14 months.
Bank stocks recovered strongly during the day.
Realty, IT, metals and some industrial stocks performed poorly.
Some companies fell because of higher-rate expectations, weaker demand or cautious business forecasts.
Overall, Indian stocks remained under pressure despite the late recovery.
Foreign institutional investors sold ₹930.90 crore of Indian equities on Friday, while domestic institutions bought ₹1,968.17 crore.
The Sensex fell 121 points to 74,782 and the Nifty declined 80 points to 23,398.
The benchmark indices recorded their fifth consecutive weekly loss, their longest losing run in 14 months.
The Sensex and Nifty each fell about 2% during the week, while Realty and IT declined about 6%.
Financial stocks recovered late, but broader markets remained pressured by concerns over interest rates, demand and corporate guidance.
- Who
- Foreign institutional investors, domestic institutional investors and participants in the Indian stock market.
- What
- Foreign investors continued selling, while Indian benchmark indexes recorded a fifth consecutive weekly decline.
- Where
- India’s equity market, including the Sensex, Nifty and sectoral indexes.
- When
- On Friday and during the trading week described in the report.
- Why
- Foreign selling continued, while stocks were also pressured by expectations of higher interest rates, demand concerns, weaker metal prices and cautious company guidance.
Key facts
- Foreign institutional flows
- Net selling of ₹930.90 crore on Friday
- Domestic institutional flows
- Net buying of ₹1,968.17 crore on Friday
- Sensex close
- 74,782, down 121 points
- Nifty close
- 23,398, down 80 points
- Nifty Bank close
- 56,607, up 135 points
- Weekly benchmark performance
- Sensex and Nifty each fell about 2%
- Losing streak
- Five consecutive weeks, the longest in 14 months
Sources
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