FIIs net sell shares worth Rs 2,464 crore, DIIs net buy Rs 1,515-crore shares

FIIs net sell shares worth Rs 2,464 crore, DIIs net buy Rs 1,515 crore

Foreign Institutional Investors (FIIs) emerged as net sellers on the last session of the week, offloading shares worth Rs 2,464 crore, while Domestic Institutional Investors (DIIs) continued their buying spree to net buy Rs 1,515 crore worth of shares on February 10.

During the session, DIIs purchased Rs 9,802 crore worth of shares and sold Rs 8,286-crore shares, while FIIs bought Rs 9,607 crore worth of shares and sold Rs 12,071-crore shares, provisional data from NSE showed.

Also read: Taking Stock: Sensex, Nifty decline as consumer stocks weigh; Rupee hits fresh low

So far this year, FIIs have net sold shares worth Rs 99,927 crore, while DIIs have net bought Rs 95,378 crore worth of shares.

The downside momentum continued in the market for the fourth consecutive sessions on Monday and Nifty closed the day lower by 178 points. All the sectoral indices ended in the red with metal, media, pharma, consumer durables, energy, realty down 2 percent each.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, reflected on the market's performance today saying, "After opening lower, the market continued to slide down further in the early part of the session. It later  shifted into range bound action with minor upside recovery towards the mid to later part of the session." The chart overall now reflects downturn below the crucial cluster supports of around 23,400 levels (10/20-day EMA and support as per change in polarity).

Shetti suggests that a slide below the next support of 23,220 , could nullify the bullish chart pattern like higher tops and bottoms, further leading to a negative impact on the market. "The underlying trend of Nifty remains negative. Having moved below the crucial supports of 23400, one may expect the market to slide down to 23200 and lower in the short term. Immediate resistance is placed at 23500 levels," he added.