Foreign investors (FIIs/FPIs) net bought Rs 790 crore worth of Indian equities on Monday, October 20. At the same time, domestic institutional investors (DIIs) net bought shares worth Rs 2,486 crore, according to provisional exchange data.
DIIs purchased shares worth Rs 15,690 crore and sold shares worth Rs 13,205 crore. In contrast, FIIs bought shares worth Rs 11,786 crore, but sold shares totalling Rs 10,996 crore.
For the year so far, FIIs have been net sellers of shares worth Rs 2.39 lakh crore, while DIIs have net bought shares worth Rs 6.03 lakh crore.
Market Outlook
Reflecting on the market performance today, Ajit Mishra – SVP, Research, Religare Broking, said: "Markets began the week on an upbeat note and extended their upward momentum, largely supported by favorable domestic cues. The Nifty index opened firm with a gap-up and moved higher initially, followed by a range-bound phase till the end. It eventually settled at 25,843.15, up 0.52%. On the sectoral front, a mixed trend kept participants engaged, with IT, pharma, and banking leading the gains, while metal and auto traded on a muted note. The broader markets also displayed resilience, as both the midcap and smallcap indices advanced in the range of 0.4 to 0.7%."
The continued buoyancy in the banking pack, coupled with rotational buying across other sectors, is driving the index higher with each passing session. As the Nifty approaches the 26,000 mark, some consolidation cannot be ruled out before a fresh breakout; however, the overall bias remains positive, with immediate support around 25,650 and major support near 25,450. We recommend maintaining a “buy on dips” approach, focusing on large-cap and quality midcap stocks that are showing consistent relative strength.
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