On September 23, foreign institutional investors (FIIs) were net sellers, offloading shares worth Rs 3,551 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,671 crore, according to provisional data from exchanges.
DIIs net bought shares worth Rs 13,526 crore and sold shares worth Rs 10,855 crore. On the other hand, FIIs net bought shares worth Rs 12,222 and net sold Rs 15,773 crore shares.
Over the year, FIIs have remained significant net sellers with outflows totaling Rs 2.27 lakh crore, while DIIs have been strong net buyers, investing Rs 5.54 lakh crore.
Market outlook
The Sensex ended 58 points lower at 82,102, while the Nifty 50 slipped 33 points to 25,170, as broader selling weighed on the market with 2,216 stocks declining against 1,751 advances.
Top gainers included IndusInd Bank (2.9%), JSW Steel (2.4%), Axis Bank (2.3%), and Bajaj Finance (1.9%).
Metals and banking gained on strong demand and positive outlooks, while FMCG, IT, realty, consumer durables, and smallcaps fell. Auto stocks rose on festive demand, led by Maruti, M&M, Tata Motors, and Hero MotoCorp.
Nandish Shah - Deputy Vice President, HDFC Securities noted that the broader market indices continued profit booking for the second day in the row. "The Nifty Midcap 100 Index fell by 0.35%, while the Nifty Smallcap 100 Index lost 0.53%. Market breadth remained weak for the second day in the row, with declining shares outnumbering advancing ones, as reflected in a BSE advance-decline ratio of 0.76," he said. Shah added that despite the volatile price action, Nifty managed to hold above its previous swing high of 25153 on a closing basis and maintained its position above the crucial 20 DEMA support level, which is currently placed at 25041. On the upside, the key resistance levels to watch for are 25331 and 25448.
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