Foreign portfolio investors continued to remain net sellers of Indian equities for the seventh straight session on Friday as they net offloaded stocks worth approximately Rs 11,639.02 crore.
This is the highest ever sell-off by FPIs since Nov. 28, 2024. This came on the day when volatility was expected in certain stocks, due to the MSCI rejig coming into effect from the close of market hours.
Domestic institutional investors stayed net buyers for the 17th straight session as they mopped up equities worth Rs 12,308.63 crore, according to provisional data from the National Stock Exchange.
In the previous session, the FPIs had offloaded equities worth Rs 556.56 crore. In February so far, the FPIs have net offloaded equities worth Rs 34,574 crore, according to the National Securities Depository Ltd.'s data.
This was preceded by net selling of Rs 78,027 crore in January. In 2025 so far, they have net sold equities worth Rs 1.12 lakh crore, the NSDL data showed.
The benchmark indices ended the week and the month with heavy losses on Friday, with the NSE Nifty 50 falling to the lowest level since June 5.
As compared to the preceding day, the NSE Nifty 50 ended 420.35 points or 1.86% lower at 22,124.70, while the BSE Sensex closed 1,414.33 points or 1.9% down at 73,198.10.
In the near term, Nifty 50 is expected to find support around 21,800-22,000, according to Rupak De, senior technical analyst at LKP Securities. A sustained move above 21,800 could lead to a significant recovery, while failure to hold this level may trigger another sharp decline, he added.
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