DIIs net bought shares worth Rs 2,402 crore, FIIs net sold shares worth Rs 2,758 crore

DIIs net bought shares worth Rs 2,402 crore, FIIs net sold shares worth Rs 2,758

On January 24, domestic institutional investors (DIIs) net bought shares worth Rs 2,402 crore, while on the other hand, foreign institutional investors (FIIs) net sold shares worth Rs 2,758 crore, provisional data from NSE showed.

During the trading session, DIIs bought Rs 12,835-crore shares and sold shares worth Rs 10,433 crore, and FIIs purchased Rs 11,230-crore shares while offloading equities worth Rs 13,988 crore.

For the year so far, FIIs have net sold Rs 69,072-crore shares, while DIIs have net bought Rs 66,942 crore worth of shares.

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The broader market faced significant pressure on January 24, with the Sensex closing at 76,190.46, down by 0.43 percent, and the Nifty 50 closing at 23,092.2 by declining 0.49 percent.

The biggest gainer was Hindustan Unilever (HUL), with a price increase of 2 percent, while Dr Reddy's Labs was the biggest loser, with a price decline of 5.04 percent.

The Nifty FMCG sector emerged as the best performer, closing at 56069.3 with a positive change of 0.52 percent. In contrast, the Nifty Pharma sector was the worst performer, closing at 21,872.40 with a negative change of 2.11 percent.

Reflecting on the market performance today, Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd said, "Broader market indices were under heavy selling pressure as Nifty Midcap100 lost 1.6 percent and Nifty Smallcap100 plunged 2.4 percent. In global developments, the Bank of Japan hiked interest rates by 25bps to 0.5 percent, bringing its policy rate to its highest level since 2008, as it seeks to normalise its monetary policy. On the other hand, US' benchmark S&P 500 rose to a record high, while the other two indices gained for fourth day in a row after U.S. President Donald Trump called for lower interest rates and cheaper oil prices".

"Domestic equities are expected to trade within a broad range with some volatility amidst the Q3 result season, unfolding of US President Trump’s economic policies and the Union Budget on Saturday (Feb 1). PSU and capex themed stocks such as railway, defence, capital goods will be in focus ahead of the Budget", he added.