On a day when the benchmark Nifty50 index tested the 23,000 level for the first time, foreign investors (FIIs and FPIs) net sold shares worth Rs 945 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 2,320 crore, provisional data showed on May 22.
DIIs bought Rs 13,476 crore and sold Rs 11,155 crore worth of shares in equities, while FIIs bought Rs 11,564 crore worth of shares and offloaded equities worth Rs 12,509 crore in the session.
At close on May 24, Sensex ended flat, down 7.65 points at 75,410.39, while the Nifty50 ended down 10.55 points at 22,957.10.
"The indexes closed near flat after a week of volatile trading, treading cautiously ahead of the last leg of the assembly elections and the results thereafter. Markets will be under the spell of these fleeting factors till the votes are counted and there is some kind of confirmation on the continuity in the policies,” Joseph Thomas, Head of Research, Emkay Wealth Management said.
Stocks on the Move
HDFC Bank, L&T, Bharti Airtel, BPCL and Axis Bank were among the top gainers on the Nifty, while losers were Adani Ports, Tata Consumer, Tech Mahindra, Titan and M&M.
Flows for the Year
For the year so far, FIIs have sold Rs 1,19,137 crore worth of shares and DIIs have bought Rs 1,93,329 crore worth of shares. Nifty has gained 25.3 percent so far in the year while Sensex has gained 21 percent.
The relative outperformance of Indian equities to other markets is possibly making foreign investors cautious, even as domestic flows are seen staying robust, Chris Wood had noted in his latest edition of the widely-followed Greed & Fear report.
On May 21, the total market capitalisation of BSE-listed companies topped the $5 trillion mark, rising $633 billion since the start of the year and has taken six months to climb from the $4 trillion level it previously hit in November 2023.
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