FPIs Snap Four-Day Buying Spree To Turn Net Sellers

Overseas investors in Indian equities turned net sellers on Friday after four days. Foreign portfolio investors offloaded stocks worth Rs 1,790.2 crore, according to provisional data from the National Stock Exchange.

This month, FPIs have sold equities totaling over Rs 2,584.2 crore. They had purchased stocks amounting to Rs 13,069 crore in the previous four sessions.

Domestic institutional investors turned net buyers after a day of selling and mopped up equities worth Rs 1,237.2 crore, the NSE data showed.

Foreign institutions have been net sellers of Rs 11,194 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.

India's benchmark stock indices closed lower on Friday as investors booked profit. However, on a weekly basis, the indices ended higher for the third week, posting a record-high weekly close.

The NSE Nifty 50 fell 111.15 points, or 0.47%, to close at 23,455.85. The S&P BSE Sensex dropped 269.03 points, or 0.35%, to end at 77,209.90.