FIIs net sold Rs 5463 crore, DIIs net bought Rs 3713 crore

At close, the Sensex was up 115.39 points or 0.15 percent at 76,520.38, and the Nifty was up 50.00 points or 0.22 percent at 23,205.35. Market breadth remained strong, with gainers outnumbering laggards. About 2,014 shares rose, 1,779 fell, and 108 remained unchanged.

On January 23, Domestic institutional investors (DIIs) bought shares worth Rs 3713 crore, while on the other hand, foreign institutional investors (FIIs) net sold shares worth Rs 5463 crore, provisional data from NSE showed.

During the trading session, DIIs bought Rs 14,413 crore and sold shares worth Rs 10,700 crore, and FIIs purchased Rs 13,317 crore in shares while offloading equities worth Rs 18,779 crore.

For the year so far, FIIs have net sold Rs 66,314 crore, while DIIs have net bought Rs 64,540 crore worth of shares.

Market View

At close, the Sensex was up 115.39 points or 0.15 percent at 76,520.38, and the Nifty was up 50.00 points or 0.22 percent at 23,205.35. Market breadth remained strong, with gainers outnumbering laggards. About 2,014 shares rose, 1,779 fell, and 108 remained unchanged.

Most sectors, barring banks ended in the green. Top gainers for the session included Ultratech Cement, Grasim Industries, Wipro, Shriram Finance, Eicher Motors and M&M.  Among laggards, were BPCL, Kotak Mahindra Bank, HCL Tech and Reliance Industries.

On the markets, Shrikant Chouhan, Head Equity Research, Kotak Securities noted, :We are of the view that as long as it is trading above 23,100/76200, the pullback formation is likely to continue. On the higher side, the market could bounce back to the 23,400-23,450/77000-77100 range. On the other hand, if it falls below 23,100/76200, the sentiment could change, and the market may retest levels of 23,000-22,950/76000-75700."