Foreign investors (FIIs/FPIs) net bought Rs 96 crore worth of Indian equities on Tuesday, October 21. At the same time, domestic institutional investors (DIIs) net sold bought shares worth Rs 1527 crore by the end of Muhurat trading, according to provisional exchange data.
DIIs purchased shares worth Rs 324 crore and sold shares worth Rs 931 crore. In contrast, FIIs bought shares worth Rs 622 crore, but sold shares totalling Rs 526 crore.
For the year so far, FIIs have been net sellers of shares worth Rs 2.40 lakh crore, while DIIs have net bought shares worth Rs 6.02 lakh crore.
Vinit Bolinjkar - Head of Research at Ventura - says, “Muhurat Trading 2025 reflected cautious optimism compared to the subdued tone of 2024. The Sensex rose 84,600 and Nifty hovered near 25,900, with most of the sectors in green, led by IT, banking, auto and pharma shares. Broader participation improved, aided by festive consumption and firm domestic flows."
In contrast, Muhurat 2024 had seen muted gains following a volatile spell, with mid- and small-caps underperforming as global uncertainty persisted. Over Samvat 2081, Nifty till date returned mid-single digit gains, reversing a weak FY25 earnings trend that now appears to be bottoming out, indicating a more constructive setup for Samvat 2082.
The Nifty index is currently trading at a CY26 forward P/E of 18X, slightly above its average of 17X.
This suggests that the potential for further downside is limited, and we expect the Nifty to improve from current levels. Key drivers for this potential upside include a domestic consumption-driven earnings revival from Q3FY26, a possible US–India trade deal, and fiscal and monetary support, including rate cuts and increased government capex.
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