FPIs End November As Net Sellers, Offload Equities Worth Rs 4,383 Crore On Friday

Overseas investors remained net sellers of Indian equities for the second consecutive day on Friday, while the domestic institutional investors remained net buyers for the third consecutive session.

The FPIs offloaded stocks worth approximately Rs 4,383.55 crore, and DIIs bought shares worth approximately Rs 5,723.34 crore, according to provisional data by the National Stock Exchange.

On Nov. 28, FPIs offloaded stocks worth Rs 11,756.25 crore, marking the third lowest single-day selling by FPIs. The sharpest single-day selling by FPIs was recorded on Oct. 3, when they sold equities worth Rs 15,243.27 crore.

The FPIs have offloaded Rs 5,026.77-crore stocks this week, while the DIIs have bought shares worth Rs 6,924.78 crore.

In November, FPIs sold stocks worth Rs 45,974.12 crore, whereas DIIs mopped up stocks worth Rs 44,483.86 crore. In October, the FPIs had sold equities worth Rs 1.14 lakh crore and the DIIs bought equities worth Rs 1.07 lakh crore.

"Investor sentiments going forward will be directed by geo-political developments and FII activity. We expect the market to remain range-bound amidst mixed global cues and lack of domestic triggers," according to Siddhartha Khemka, head of research, wealth management at Motilal Oswal Financial Services Ltd.

In 2024 so far, foreign institutions have been net sellers of Rs 15,019 crore worth of Indian equities, according to data from the National Securities Depository Ltd., updated till the previous trading day.

Meanwhile, India's benchmark equity indices gained for a second consecutive week, adding nearly 3% in two weeks.

The NSE Nifty 50 settled 0.91% or 216.95 points higher at 24,131.10, whereas the BSE Sensex closed 0.96% or 759.05 points up at 79,802.79.