FPIs Mop Up Highest Value Of Equities In Almost Four Months

Overseas investors net bought the highest value of Indian equites in nearly four months on Wednesday, even as the benchmark indices advanced for the second day to scale fresh highs through the session.

Foreign portfolio investors mopped up stocks worth Rs 12,350 crore, according to data from the National Stock Exchange. This is the highest value of stocks bought since March 2, when FPIs net bought equities worth Rs 12,770.81 crore.

Domestic institutional investors remained net sellers for the second straight day and offloaded equities worth Rs 1,021 crore, the NSE data showed.

Foreign institutions have net bought Rs 32,344 crore worth of equities in June. They have been net buyers of Rs 61,603 crore worth of Indian equities so far in 2023, according to the National Securities Depository Ltd.

The S&P BSE Sensex closed 500 points up, or 0.79%, at 63,915.42, while the NSE Nifty 50 ended 155 points higher, or 0.82%, at 18,972.10.