- Foreign portfolio investors sold shares worth Rs 8,692 crore amid US-Iran tensions
- Domestic institutional investors bought shares worth Rs 7,980 crore for the 27th day
- US President Trump warned Iran of military action if Strait of Hormuz is not reopened
Foreign portfolio investors stayed net sellers for the 25th day and offloaded stake worth Rs 8,692 crore as US President Donald Trump's Iran deadline fuels market anxiety. On the other hand, domestic institutional investors stayed net buyers for the 27th day as they bought shares worth Rs 7,980 crore.
Despite signalling that negotiations with Iran were progressing, Trump simultaneously sharpened his rhetoric, warning of severe military consequences if Tehran fails to comply before the Tuesday evening deadline. Among the priorities outlined was ensuring the reopening of the Strait of Hormuz, a crucial artery for global oil shipments.
The US President issued another threat to Iran on Tuesday as his deadline to open the Strait of Hormuz looms. “A whole civilization will die tonight, never to be brought back again”, he said, in a post on his Truth Social platform.
He warned that US stands by its Tuesday deadline to wipe out Iran.
So far this week FPIs have offloaded equity worth Rs 16,859 crore and domestic institutional investors bought stake worth Rs 16,069 crore. Last week, FPIs offloaded total stake worth Rs 29,425 crore, while the DIIs bought stake worth Rs 29,275 crore. The spike in FPI selling came as the tensions in Middle East rose amid Iran war.
The FPIs have sold shares worth Rs 35,962 crore in January, according to data on the NSDL. On the other hand, FPIs in February have bought stake worth Rs 22,615 crore, aided by improving risk sentiment in the geoeconomic space.
With the current crisis in perspective the FPIs turned net sellers again in March. In the last month they sold equity worth Rs 1.18 lakh crore posting a month with the highest ever selling. In April so far they have offloaded stake worth Rs 37,944 crore.
Stock Market Recap
Indian equity benchmarks erased morning gains and ended near day's high on Tuesday. The NSE Nifty 50 ended 0.75%, or 155 points, higher to close above 23,100 after falling as much as 1.1% to 22,719 during the session. The BSE Sensex gained nearly 510 points to close above 74,600 after dropping as much as 1.1%, or 824 points, to 73,282 intraday. The benchmark indices extended declines for the fourth consecutive trading session.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
