FIIs buy net Rs 3,570 crore of equities as Sensex, Nifty hit record highs

So far in December, FIIs have bought a net Rs 20,493.64 crore of equities in the cash market, as per NSE.

Foreign institutional investors (FIIs) net bought Rs 3,570 crore worth of equities on December 14 as benchmark indices closed at fresh record highs, provisional data available on National Stock Exchange showed. Domestic institutional investors also bought a net Rs 553 crore of equities.

FIIs bought equities worth Rs 21,080.40 crore and sold equities worth Rs 17,510.33 during the day. On the other hand, DIIs were buyers of Rs 12,118.30 worth of equities and sellers of Rs 11,565.13 crore worth of equities.

The Sensex and Nifty hit record highs of 21,210 and 70,602 intraday, led by big gains in IT stocks. The Sensex ended the day at 70,514, up 1.34 percent, its best close till date. The Nifty finished at 1.23 percent higher from the previous session at 21,183, another record high for the 50-pack index

The Fed is expected to start cutting rates as early as March 2024, and market observers say the Reserve Bank of India will follow suit shortly.

The Fed’s dovish stance is expected to accelerate foreign fund flows into Indian equities and has come at an opportune time. The market appeared to be facing a liquidity crunch because of the large number of IPOs and share sales by promoters.

Also read: Nifty, Sensex hit fresh highs on Powell booster, rally still has steam left

So far in December, FIIs have bought a net Rs 20,493.64 crore of equities in the cash market, as per NSE.

As per data available with NSDL, which also includes investments made in primary markets, FIIs have invested a net Rs 39,260 crore so far in December. This is more than four times the investment during November. For the year so far, investments add up to Rs 1,44,232 crore.