FPIs Extend Selloff In Indian Stocks To Most Days Since October
FPIs net sold stocks worth Rs 439 crore, according to provisional data from the National Stock Exchange.
Foreign portfolio investors extended their selling spree in Indian stocks to a seventh straight session on Friday, the longest stretch since October.
FPIs net sold stocks worth Rs 439 crore, according to provisional data from the National Stock Exchange. They offloaded stocks worth Rs 1,944 crore in the previous session.
Overseas funds have pulled out nearly Rs 1.6 lakh crore from domestic equities so far this year, as per data from the National Securities Depository Ltd, which includes primary market transactions.
In just this week, Rs 11,820 have been withdrawn from Indian stocks. November saw a net outflow of Rs 3,765 crore.
On the other hand, domestic institutions mopped up shares worth Rs 4,189 crore, extending their buying streak to the 31st session. Last month, DII inflow stood at Rs 78,000 crore.
Earlier in the day, Indian equities moved up sharply, buoyed by the Reserve Bank of India's monetary policy decision to cut the repo rate by 25 basis points. At the close, the BSE Sensex settled at 85,712.37, gaining 447.05 points or 0.52%, while the Nifty 50 ended at 26,186.45, up 152.70 points or 0.59%.
Sectoral performance was broadly positive, with notable strength seen in Nifty PSU Bank, IT, Auto, and Metal indices. However, Media, Pharma, and Consumer Durables emerged as the key laggards, witnessing mild profit-booking.
On the broader market front, the Nifty Midcap 100 moved in line with the benchmark, closing 0.49% higher, whereas the Nifty Small cap 100 came under pressure and ended 0.57% lower, indicating selective participation in the rally.
The exodus of foreign capital, coupled with uncertainty around the US-India trade deal, pulled the rupee below 90 against the US dollar for the first time this week. The local currency has depreciated by 5% so far this year, the worst among Asian peers.
