FPIs Kick Off New Year With Rs 1,783-Crore Sell-Off

Foreign portfolio investors have been net sellers for the 12th straight session, while the domestic institutional investors have been buyers for the 11th consecutive session on Wednesday.

The FPIs offloaded stocks worth Rs 1,782.7 crore, while the DIIs bought stocks worth approximately Rs 1,690.4 crore, according to provisional data from the National Stock Exchange.

Overseas investors were net sellers in 2024 and collectively offloaded stocks worth Rs 7,292.3 crore. Domestic institutional investors stayed net buyers and bought stocks worth Rs 5.32 lakh crore, according to provisional data from the NSE compiled by NDTV Profit

However, according to data from the National Securities Depository Ltd., which is updated till the previous trading day, foreign institutions have been net buyers of Rs 427 crore worth of Indian equities so far in 2024.

The NSE Nifty 50 closed 98.10 points or 0.41% higher at 23,742.90, and the BSE Sensex ended 368.40 points or 0.47% higher at 78,507.41.

"We expect markets to remain sideways until the start of the Q3 result announcements that will likely induce stock/sector-specific action," Siddhartha Khemka, head of research-wealth management at Motilal Oswal Financial Services Ltd.