FII's offload stocks worth Rs 3,694 and DIIs buy Rs 2,820 worth of shares on July 17

FII's offload shares of net worth Rs 3,694 and DIIs net buy Rs 2,820 worth of shares on July 17

On July 17, Foreign Portfolio Investors (FPIs) were net sellers to the tune of Rs 3,694 crore worth of shares in Indian equities, while domestic institutional investors (DIIs) net bought Rs 2,820 crore worth of shares, according to provisional NSE data.

DIIs purchased equities worth Rs 13,523 crore and offloaded shares amounting to Rs 10,702 crore. FPIs, on the other hand, bought stocks worth Rs 11,633 crore while selling Rs 15,327 crore.

For the year so far, FIIs have been net sellers of equities worth Rs 1.32 lakh crore and DIIs were net buyers worth Rs 3.67 lakh crore.

Market Performance

Domestic equity indices slipped on Thursday as volatility returned ahead of the weekly expiry, with the Nifty 50 ending 0.4% lower at 25,111. The index opened on a firm note but lost steam through the session, closing near the day’s low amid lingering concerns over global trade tensions and a subdued start to the earnings season.

“Markets remained volatile on the weekly expiry day and ended nearly half a percent lower amid mixed cues,” said Ajit Mishra, SVP – Research at Religare Broking. He noted that a mid-session rebound attempt in Nifty failed to hold, while sectoral trends were uneven—with realty, metal, and pharma gaining ground, even as IT and banking stocks weighed on sentiment.

Broader indices showed some resilience despite the benchmark’s decline. The Nifty Midcap and Smallcap indices closed almost flat, down just 0.17% and 0.12%, respectively. According to Mishra, the divergence reflects a constructive undertone: “Sustained liquidity inflows are cushioning the downside. Rate-sensitive sectors like auto, realty, and select banks, along with defensives like FMCG and pharma, are offering ample long-side trading opportunities.”

Technical Take – Nifty & Bank Nifty

Technically, Nifty formed a bearish candle with a lower high and low, signaling profit-taking near the 20-day EMA. The index has seen only a shallow retracement—about 50% of its previous rally—indicating a healthy pullback. A move above 25,250 could unlock further upside toward 25,350 and 25,600. But until that breakout materialises, the index is expected to consolidate in the 25,000–25,250 range. Key support sits between 24,900–25,100.

Bank Nifty, meanwhile, extended its consolidation phase within the 56,500–57,600 band. It closed with a sizable bearish candle, reflecting profit booking at higher levels. The short-term support zone is placed around 56,000–55,500, which also coincides with the 50-day EMA and key retracement levels. Despite near-term choppiness, analysts at Bajaj Broking believe this consolidation offers buying opportunities in line with the broader positive trend.