FPIs Remain Net Sellers, Offload Equities Worth More Than Rs 2,800 Crore

Foreign portfolio investors (FPIs) extended their selling streak into the sixth consecutive session on Monday. The overseas investors sold stocks worth approximately Rs 2,831.59 crore, according to provisional data from the National Stock Exchange (NSE). Domestic institutional investors remained buyers for the 25th session and mopped equities worth Rs 3845.87 crore.

In the last week, FPIs sold Indian equities worth nearly Rs 19,570 crore while DIIs have bought shares worth Rs 17,411.40 crore. While in the week prior to that they offloaded shares worth Rs 1,192.80 crore while DIIs bought Rs 11,088.41 crore.

So far in September, they have sold stocks worth Rs 22,530 crore according to National Securities Depository Ltd. while so far in the year they have offloaded 1.53 lakh crore shares.

On Friday, the benchmark indices saw a volatile session and ended in the red after opening higher. Nifty ended 0.08% lower at 24634.90 while Sensex ended 0.08% lower at 80364.94. Nifty PSU Bank snapped 3-day losing streak, and ended as the top gaining sector for the day. Sectoral indices settled mix.

"Uncertainty around the US–India trade deal and sustained weakness in IT and pharma sectors and remain key near-term headwinds for the market," stated Bajaj Broking Research. The research firm added that domestic investors have eyes out for RBI policy announcement this week, where the rates are expected to remain unchanged.