FIIs extend buying streak to 14th session, infuse Rs 3,794 crore on May 6; DIIs dump Rs 1,398 crore

Benchmark indices Nifty and Sensex ended with cuts on May 6, snapping a two-day gaining streak, as 12 out of 13 sectoral indices traded lower.

Foreign investors kept up their buying momentum in May, pouring Rs 3,794 crore into Indian equities on Tuesday, marking their fourteenth straight day of inflows, even as domestic institutional investors turned sellers, offloading shares worth Rs 1,398 crore after a six-day buying streak, provisional data showed.

During the trading session of May 6, FIIs bought shares worth Rs 13,471 crore and sold shares worth Rs 9,676 crore. DIIs purchased shares worth Rs 10,963 crore and sold shares worth Rs 12,360 crore.

For the year so far, FIIs have been net sellers of shares worth Rs 1.30 lakh crore, while DIIs have net bought Rs 2.11 lakh crore worth of shares.

Market Performance

Benchmark indices Nifty and Sensex ended with cuts on May 6, snapping a two-day gaining streak, as 12 out of 13 sectoral indices traded lower. The broader market also felt the pinch and fell more than the frontline indices in the afternoon. Volatility flared up as the India VIX rose 3.6 percent to close at 19.

Investors are focused on central bank policy this week. The FOMC meeting for May concludes on Wednesday, and expectations are that the Fed will hold its policy rate steady at 4.25–4.5 percent.

In today's session, the broader market, represented by the Midcap 100 and Smallcap 100 indices, mirrored the weak trend and underperformed the frontline indices with losses of 2.27 and 2.5 percent each. Since the start of the year, the two indices are down 6.5 and 13.5 percent, respectively.

Sectorally, barring Nifty Auto, all indices ended lower. PSU banks led the decline with a sharp 5 percent drop, followed by realty, which shed 3.32 percent. Media, energy, oil & gas, and consumer durables also registered significant losses, each down between 1.68 and 2.15 percent. The pharma, metal, and infrastructure indices slipped over 0.7 percent, while private banks, IT, and FMCG recorded relatively milder losses.

Hero MotoCorp, Bharti Airtel, M&M, HUL, and Tata Steel were the top gainers on the Nifty. Laggards included Adani Enterprises, Jio Financial Services, Enterr10, Trent, and SBI Life Insurance Company.

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