The two-day buying comes after 38 straight sessions of selling by the Foreign Institutional Investors (FII). The above development is on the back of an emphatic win by the Bharatiya Janata Party (BJP) led Mahayuti alliance in the Maharashtra Assembly elections.
The FIIs chose to buy notwithstanding a selling trend shown by the domestic institutional investors (DIIs) over the past two sessions. They have net sold domestic shares worth Rs 8,800 crore. On Monday, DIIs off-loaded shares worth Rs 6907.97 crore while today they parted ways with stocks amounting to Rs 1,910.86 crore.
In November so far, FPIs have sold equities worth Rs 15,845 crore after remaining net sellers in October when they had sold shares worth Rs 94,017 crore.
On the year-to-date basis, FIIs are net sellers at Rs 9,252 crore.
In September, FPIs bought domestic equities worth Rs 57,724 crore while in August, they had purchased shares worth Rs 7,322 crore which was down month-on-month from July when the total buying figures stood at Rs 32,359 crore.In June, they were net buyers at Rs 26,565 crore after remaining net sellers in April and May when they sold equities worth Rs 8,671 crore and Rs 25,586 crore respectively.In February and March they were net buyers at Rs 1,539 crore and Rs 35,098 crore after starting the year on a negative note in January when they offloaded shares worth Rs 25,744 crore.
Indian benchmark indices broke their two-sessions gaining streak on Tuesday dragged by selling pressure in auto and pharma stocks. While the S&P BSE Sensex settled at 80,004.06, down by 105.79 points or 0.13%, the broader Nifty fell below 24,200 to close at 24,194.50, lower by 27.40 points or 0.11%.
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