FIIs turn net buyers of Indian equities worth Rs 1172 crore, DIIs net buy equities worth Rs 769 crore

Indian equity benchmarks closed lower on Wednesday as cautious sentiment prevailed amid weak global cues and the profit booking and FII selling. The Sensex slipped 120 points to close at 84,559.65, while the Nifty 50 declined 42 points to settle at 25,818.55, ending below the 25,850 mark.

Reflecting on the same, Vikram Kasat, Head Advisory, PL Capital, said, "Early gains were erased as selling pressure in heavyweight financial stocks weighed on the indices. The Nifty Bank index also ended lower, falling 108 points to close at 58,927, as profit-taking emerged in select large lenders. Broader markets underperformed the benchmarks, with the Nifty Midcap index sliding 322 points to 59,389, while the smallcap index shed nearly 1%, keeping overall market breadth firmly tilted towards declines. Selling pressure was broad-based, with most sectoral indices ending in the red. Private banks, realty, consumer durables, FMCG and healthcare stocks declined in the range of 0.4 to 1%, while the media index fell 2%. In contrast, the PSU Bank index gained 1.2%, offering limited support to the market."

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