The stock market saw continued selling pressure amidst rising geopolitical tensions and the US SEC's allegations against the Adani Group, resulting in a net outflow by foreign investors on November 21.
Domestic institutional investors (DIIs) net bought shares worth Rs 4,200 crore, while on the other hand, foreign institutional investors (FIIs) net sold shares worth Rs 5,321 crore, provisional data from NSE showed.
During the trading session, DIIs bought Rs 14,556 crore and sold shares worth Rs 10,356 crore, and FIIs purchased Rs 16,560 crore in shares while offloading equities worth Rs 21,880 crore.
For the year so far, FIIs have net sold Rs 2.93 lakh crore, while DIIs have net bought Rs 5.61 lakh crore worth of shares.
Also read: Taking Stock: Bears back in action; Nifty below 23,400, Sensex falls 423 pts as Adani stocks weigh
Market View
At close, the Sensex was down 422.59 points or 0.54 percent at 77,155.79, while the Nifty fell 168.60 points or 0.72 percent at 23,349.90.
Biggest Nifty losers were Adani Enterprises, Adani Ports, SBI Life Insurance, NTPC and SBI, while gainers included Power Grid Corp, UltraTech Cement, Hindalco Industries, HCL Tech and Grasim Industries.
In sectors, Energy, FMCG, Oil & Gas, PSU Bank, Media, Auto, and Metal were trading in the red while Realty and IT index were trading in the green.
Impact of US DoJ's Adani Indictment
Vikram Kasat, Head - Advisory, PL Capital-Prabhudas Lilladher said, "The benchmark Nifty 50 and BSE Sensex had ended their losing streak on Tuesday, recovering from a correction. However, the outlook remains cautious due to an average corporate earnings season and continued foreign outflows. Risk sentiment could be further impacted by the ongoing legal developments surrounding the Adani Group." Shares of Adani Enterprises saw a steep fall of up to 23 percent, hitting the day's low of Rs 2,171.60. The stock ended 20.23 percent lower at Rs 2,249.80, marking a 27.79 percent fall in the past six months.
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