FPIs Extend Selling Streak, Offload Shares Worth Nearly Rs 1,500 Crore
FPIs have pulled out nearly Rs 1.61 lakh crore from domestic equities so far this year.
Foreign portfolio investors (FPIs) extended their selling streak into the 14th session after offloading Indian equities worth Rs 1,468.32 crore on Monday, as per provisional data from the National Stock Exchange (NSE).
In the last session on Friday, they had sold shares worth Rs 1,114 crore. In the first two weeks of December, the overseas investors pulled Rs 18,000 crore from the Indian stock market according to data from the National Securities Depository Ltd. (NSDL).
The selloff has been the longest since August when they sold Rs 35,000 crore.
FPIs have pulled out nearly Rs 1.61 lakh crore from domestic equities so far this year, as per NSDL data, which includes primary market transactions. Last month they had sold only Rs 3,765 crore.
In contrast to this, Domestic institutional investors (DIIs) mopped up shares worth Rs 1,792.25 crore, extending their buying streak to the 37th session. DII's steady purchasing streaks have helped equities weather the FPI exodus with their capital inflow.
Market Recap
Indian benchmark indices snapped their two-session winning streak on Monday. The NSE Nifty 50 ended 19.65 points or 0.08% lower at 26,027.3, while BSE Sensex closed 54.3 points or 0.06% down at 85,213.36. Intraday, both the Nifty and Sensex fell nearly 0.50%.
Broader market witnessed strong buying interest with Nifty Midcap100 and Smallcap 100 up by 1.2% and 0.9% respectively.
Most sectors showed steady gains, led by strong momentum in metals, realty, banking and financial services. Surge in metal stocks was backed by weakness in the dollar, Fed rate cut and China's recent announcement on 'proactive' fiscal policy which boosted investor sentiment.
Broader indices also closed mixed. Nifty Midcap 150 ended 0.07% lower; Nifty Smallcap 250 closed 0.36% higher. Most sectoral indices fell with Nifty auto leading the decline. Nifty Media and Nifty FMCG ended the day in green.
Currency Check
The Indian rupee touched a new record closing low at 90.73 against the US Dollar. It hit a record low of nearly 90.80 against the greenback during intraday trade.
The currency has fallen over 2% in the last one month.
