FPIs Turn Net Buyers As Nifty Hits Two-Month High Ahead Of Fed Rate Cut Decision
The DIIs stayed net buyers for the 15th session and bought stakes worth Rs 1,518.73 crore.
Foreign portfolio investors turned net buyers of Indian equities on Tuesday, when the market resumed its rally after a one-day blip.
The FPIs bought stocks worth approximately Rs 308.32 crore, according to provisional data from the National Stock Exchange.
The domestic institutional investors stayed net buyers for the 15th straight session and bought stakes worth Rs 1,518.73 crore.
In the first week of September, the FPIs sold stakes worth Rs 17,873.1 crore. However, that reduced in the second week with the FPIs selling stake worth Rs 3,630.35 crore.
So far in September, the FPIs have sold stakes worth Rs 10,095 crore, according to NSDL, while in the entire year, they have offloaded stake worth Rs 1.4 lakh crore.
The FPIs have sold shares worth Rs 34,993 crore in August and Rs 17,741 crore in July. On the other hand, the FPIs bought stakes worth Rs 14,590 crore in June.
As far as the Indian markets are concerned, the Nifty reclaimed 25,200 and hit two-month high. This comes at a time when India and the US have resumed their trade deal negotiations.
The NSE Nifty 50 settled 169.90 points or 0.68% higher at 25,239.10 and the BSE Sensex closed 594.95 points or 0.73% up at 82,380.69. The Nifty rose as much as 0.77% during the day to 25,261.40, while the Sensex was up 0.80% to 82,443.48.
A rally in Asian and US peers also instilled optimism in the domestic stock market ahead of this week's US Federal Reserve policy meeting.
The rupee appreciated 12 paise to 88.04 against the US dollar in early trade on Tuesday.
