FIIs net sell shares worth Rs 3,207 crore, DIIs net buy Rs 4,730 crore of equities on December 3

At close, the Sensex was down 31.46 points or 0.04 percent at 85,106.81, and the Nifty was down 46.20 points or 0.18 percent at 25,986.00. BSE Midcap index shed 1% and smallcap index declined 0.4%.

Foreign investors (FIIs/FPIs) net sold Rs 3,207 crore worth of Indian equities on Wednesday. At the same time, domestic institutional investors (DIIs) net bought shares worth Rs 4,730 crore, according to provisional exchange data.

DIIs purchased shares worth Rs 17,188 crore and sold shares worth Rs 12,458 crore. In contrast, FIIs bought shares worth Rs 11,135 crore but sold shares totalling Rs 14,312 crore.

For the year so far, FIIs have been net sellers of shares worth Rs 2.66 lakh crore, while DIIs have net bought shares worth Rs 7.17 lakh crore.

Market view

At close, the Sensex was down 31.46 points or 0.04 percent at 85,106.81, and the Nifty was down 46.20 points or 0.18 percent at 25,986.00. BSE Midcap index shed 1% and smallcap index declined 0.4%.

On the sectoral front, IT, media, private bank, Telecom rose 0.2-0.6 percent, while PSU Bank shed 3%, and oil & gas, metal, power, PSU, capital goods, consumer durables down 0.5-1.5%.

Max Healthcare, Shriram Finance, Bharat Electronics, Interglobe Aviation, Tata Consumer were among major losers on the Nifty, while gainers were Wipro, Hindalco Industries, TCS, Axis Bank and ICICI Bank.

On Nifty today, Rupak De, Senior Technical Analyst at LKP Securities noted,  "Nifty slipped in the first half on Wednesday to find support near 25,900 before staging a smart recovery towards the end. After a volatile session, the index managed to float above the 21EMA, keeping the short-term bullish bias intact." He added that short term bearish sentiment has begun to surface as the index has formed a bearish divergence on the daily chart. "Besides, it has also fallen below a rising trendline, adding to the weakness in the market. From here, if the index sustains the recovery — as expected after taking support at 25,900 — it may move towards 26,060 on the higher side, where it could face resistance once again, potentially triggering another decline," he added.