Foreign portfolio investors (FPIs) extended their selling streak into the 15th session after offloading Indian equities worth Rs 2,382 crore on Monday, as per provisional data from the National Stock Exchange (NSE).
In the last session on Friday, they had sold shares worth Rs 1,468 crore. In the first two weeks of December, the overseas investors pulled Rs 18,000 crore from the Indian stock market according to data from the National Securities Depository Ltd. (NSDL).
The selloff has been the longest since August when they sold Rs 35,000 crore.
FPIs have pulled out nearly Rs 1.60 lakh crore from domestic equities so far this year, as per NSDL data, which includes primary market transactions. Last month they had sold only Rs 3,765 crore.
In contrast to this, Domestic institutional investors (DIIs) mopped up shares worth Rs 1,077 crore, extending their buying streak to the 37th session. DII's steady purchasing streaks have helped equities weather the FPI exodus with their capital inflow.
Market Recap
The benchmark equity indices snapped their two-day winning streak. Intraday, both Nifty and Sensex indices had fallen nearly 0.50%. The NSE Nifty 50 ended 19.65 points or 0.08% lower at 26,027.30. The BSE Sensex ended 54.30 points or 0.06% down at 85,213.36.
Broader indices also closed mixed. Nifty Midcap 150 ended 0.07% lower, Nifty Smallcap 250 closed 0.36% higher. Most sectoral indices fell with Nifty Auto leading the decline. Nifty Media and Nifty FMCG ended the day in green.
The market breadth was skewed in the favour of buyers, as 2,020 stocks declined, 2,244 advanced and 197 remained unchanged on the BSE.
Hindustan Unilever Ltd., ITC Ltd., IntergGlobe Aviation Ltd., Larsen & Toubro Ltd. and HCL Technologies Ltd. emerged as the top gainers for the day.
On the other hand, HDFC Bank Ltd., Mahindra & Mahindra Ltd., Bharti Airtel Ltd., Eicher Motors Ltd. and Maruti Suzuki Ltd. were the worst performers of the Nifty 50 index.
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