FIIs net sell shares worth Rs 3796 crore, DIIs net buy Rs 4148 crore on November 28

At close, the Sensex was down 13.71 points or 0.02 percent at 85,706.67, and the Nifty was down 12.60 points or 0.05 percent at 26,202.95.

Foreign investors (FIIs/FPIs) turned net sellers of Indian equities again on Friday, November 28 after selling shares worth Rs 3796. At the same time, domestic institutional investors (DIIs) net bought shares worth Rs 4148 crore, according to provisional exchange data.

DIIs purchased shares worth Rs 14,627 crore and sold shares worth Rs 10,479 crore. In contrast, Flls bought shares worth Rs 10,175 crore but sold shares totalling Rs 13,970 crore.

For the year so far, FIls have been net sellers of shares worth Rs 2.58 lakh crore, while DIls have net bought shares worth Rs 7.01 lakh crore.

Market view

At close, the Sensex was down 13.71 points or 0.02 percent at 85,706.67, and the Nifty was down 12.60 points or 0.05 percent at 26,202.95.

On the sectoral front, pharma, media, auto rose 0.5-1%, while power, oil & gas, telecom shed 0.5-1% each.

Adani Enterprises, M&M, Adani Ports, Sun Pharma, HUL were among top gainers on the Nifty, while losers were SBI Life Insurance, Shriram Finance, HDFC Life, Power Grid Corp and Bharti Airtel.

According to Amol Athawale, VP Technical Research, Kotak Securities, in the last week, the benchmark indices witnessed a sharp recovery from lower levels. "The Nifty ended 0.52 percent higher, while the Sensex was up by 474 points. Among sectors, Financial Services index  outperformed, rallying over 2.25 percent, whereas the Defence index lost the most, shed 1.25 percent. During the week, the market found support near the 20-day SMA (Simple Moving Average) and bounced back sharply. Technically, it has formed a promising reversal pattern on daily and intraday charts, and it is also holding a higher bottom formation on daily charts, which is largely positive. We are of the view  that the short-term market outlook is  positive and uptrend formation is likely to continue in the near future," he said.

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