Foreign portfolio investors stayed net sellers of Indian equities for the third straight day on Friday as they offloaded stocks worth approximately Rs 470.4 crore.
Domestic institutional investors stayed net buyers for the third straight session as they mopped up equities worth Rs 454.2 crore, according to provisional data from the National Stock Exchange.
The FPIs sold stocks worth Rs 3,549.95 crore on Thursday. So far in the year, the FPIs have sold equities worth Rs 85,369 crore. In January, the FPIs sold equities worth Rs 78,027 crore, according to the National Securities Depository Ltd.'s data.
The NSE Nifty 50 and BSE Sensex declined for three sessions in a row on Friday as ICICI Bank Ltd. and HDFC Bank Ltd. share prices dragged. However, on a weekly basis, both indices ended up for the second week.
Market participants parsed the Reserve Bank of India's Monetary Policy Committee statement after the rate-setting panel cut the repo rate.
The NSE Nifty 50 ended 43.40 points or 0.18% down at 23,559.95 and the BSE Sensex settled 197.97 points or 0.25% lower at 77,860.19.
The central bank unanimously voted to reduce the benchmark repo rate to 6.25% from 6.50% at the end of its policy meet on Friday, in line with market expectations.
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