Overseas investors of Indian equities remained net sellers on Wednesday for the second straight session.
Foreign portfolio investors remained net sellers and offloaded stocks worth Rs 5,656.3 crore, according to provisional data from the National Stock Exchange.
On Tuesday, FPIs sold stocks totalling Rs 12,436 crore, which set a record in their selling activity in 2024. This occurred after a market decline, because as opposed to exit poll predictions, the vote counting trends suggested a more competitive scenario for Prime Minister Narendra Modi-led government.
Domestic institutional investors turned net buyers and mopped up equities worth Rs 4,555.1 crore, the NSE data showed.
Foreign institutions have been net sellers of Rs 26,583 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 equity gauges recovered most of the losses incurred by the worst market crash in four years in the previous session. The surge came after the National Democratic Alliance pledged support to form a government for the third term.
The NSE Nifty 50 closed 688.95 points, or 3.15%, higher at 22,573.45, while the S&P BSE Sensex rose 2,303.1 points, or 3.2%, at 74,382.24.
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