FIIs net buy shares worth Rs 3,260 crore, DIIs net buy shares worth Rs 2,691 crore

FIIs and DIIs buying

Domestic institutional investors (DII) net bought shares worth Rs 2,691 crore while Foreign institutional investors (FII) were net buyers of shares worth Rs 3,260 crore, provisional data from NSE showed on August 29.

DIIs bought Rs 19,919 crore worth of shares and sold shares worth Rs 17,228 crore. Meanwhile, FIIs purchased shares worth Rs 27,036 crore and offloaded equities worth Rs 23,777 crore during the trading session.

For the year so far, FIIs have net sold shares worth Rs 1.46 lakh crore, while DIIs have bought shares worth Rs 3.12 lakh crore.

Also read: Taking Stock: Market at fresh record high; RIL to consider bonus share issue

Market view

At close, the Sensex was up 349.05 points or 0.43 percent at 82,134.61, and the Nifty was up 99.60 points or 0.40 percent at 25,152.

Biggest Nifty gainers were Bajaj Finserv, Bajaj Finance, Tata Motors, Britannia Industries, and BPCL, while losers included Grasim Industries, M&M, JSW Steel, Kotak Mahindra Bank, and Dr Reddy's Laboratories.

The BSE Midcap index shed 0.3 percent while the smallcap index was down 0.7 percent.

On the sectoral front, auto, oil & gas, telecom, IT, and FMCG rose 0.5-1 percent, while capital goods, pharma media, metal, and power were down 0.3-0.7 percent.

Commenting on today's market, Siddhartha Khemka, Head - Research, Wealth Management at Motilal Oswal Financial Services noted that the market continued its winning streak for the 11th consecutive day. "Focus during the day remained on Reliance Industrties AGM wherein the company announced to consider 1:1 bonus along with various other strategic investments," he said.

He expects this gradual uptick in the market to continue with Nifty making fresh highs day on day. "This will be supported by India’s rating being maintained globally (Rating agency Fitch affirmed India’s rating at 'BBB-' with a stable outlook) on the back of a strong medium-term growth outlook and strengthening fiscal credibility," he said.

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