FIIs net sell shares worth Rs 470 crore, DIIs net buy Rs 454 crore

FIIs net sell shares worth Rs 470 crore, DIIs net buy Rs 454 crore

Foreign Institutional Investors (FIIs) emerged as net sellers on the last session of the week, offloading shares worth Rs 470 crore, while Domestic Institutional Investors (DIIs) continued their buying spree to net buy Rs 454 crore worth of shares on February 7.

During the session, DIIs purchased Rs 12,185 crore worth of shares and sold Rs 11,731 crore, while FIIs bought Rs 12,482 crore worth of shares and sold Rs 12,952 crore, 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 97,464 crore, while DIIs have net bought Rs 93,862 crore worth of shares.

Benchmark Nifty 50 continued to decline for a third consecutive session on Friday, and in a volatile session the index ended lower by 43 points, while Sensex closed with a cut of 197 points. Nifty Bank ended lower, while midcap shares outperformed with the Midcap Index closing the session in the green.

On a weekly basis, this was the second week of higher close for the index.

The Market View

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, "After the announcement of RBI's MPC outcome, the Nifty witnessed intraday swing on either side in the mid-part, and finally showed upside recovery from the lows towards the end."

This, he said, indicates downward correction from the hurdle of 23,800 levels (down trendline resistance). "The underlying short-term trend of Nifty is weak, with high volatility," he said.