FIIs net sell shares worth Rs 6,286 crore, DIIs net buy shares Rs 5,185 crore

FIIs net sell shares worth Rs 6286 Crore; DIIs net buy shares Rs 5185 Crore

Foreign institutional investors (FII) were net sellers of shares worth Rs 6,286 crore, while domestic institutional investors (DII) were net buyers of shares worth approximately Rs 5,185 crore on February 24, as per provisional data from NSE.

Data showed that DIIs net bought shares worth Rs 7,366 crore and sold shares worth Rs 12,552 crore. FIIs purchased shares worth Rs 14,192 crore and sold shares worth Rs 7,905 crore.

For the year so far, FIIs have been net sellers of shares worth Rs 1.30 lakh crore, while DIIs have net bought Rs 1.34 lakh crore worth of shares.

Also Read: Sensex, Nifty at eight-month low in broad-based selling, IT and metal shares weigh

Market Performance 

Benchmark index Nifty 50 fell by 1.1 percent to 22,553 level, reaching an eight-month low on February 24. Sensex ended the session 1.14% lower at 74,454 amid selloff in US equities on Friday over concerns of weaker-than-expected economic data.

"The February Service PMI declined to a 17-month low and existing home sales dropped more than expected. US consumer sentiment hit a 15-month low in February, while inflation expectations soared due to President Donald Trump’s proposed tariffs. Most Asian markets followed suit, mirroring US market losses amid growing economic uncertainty. The Indian market is facing further headwinds from relentless FII selling and threats of US reciprocal tariffs," Siddhartha Khemka, Head - Research at Motilal Oswal Financial Services said.

Broader markets too came under selling pressure, with Nifty Midcap 100 and Smallcap 100 indices down 1% each. Nifty IT index plunged 2.7% on fears of business hit  as domestic IT companies are heavily reliant on services exports to the US.

Siddhartha Khemka added, "NBFC, financials, real estate and consumer durable stocks are likely to be in focus post release of RBI MPC's Feb 2025 meeting minutes on Friday, as it is being anticipated that easing in headline inflation might lead RBI to continue with further rate cut in its upcoming April 2025 meet. After consolidating for the last few trading sessions, Nifty 50  resumed its downward trajectory breaking below the key support level of 22,800."