FII, DII inflow fuels equity market as Nifty hits 20,000

On Monday, FII turned into buyers as they purchased shares worth ₹1,473.09 crore from the market. FII bought shares worth ₹11,469.51 crore and sold around ₹9,996.42 crore in the market. Maintaining a consistent streak, Domestic Institutional Investors (DII) pumped in shares worth ₹366.24 crore in the market. DII bought shares worth ₹8,522.40 crore and sold shares worth ₹8,156.16 crore.

For investors, day ended with Sensex closing 528.17 points, or 0.79 per cent, higher at 67,127.08. The Nifty closed the day with a gain of 176.40 points, or 0.89 per cent, at 19,996.35.

Fifteen minutes prior to the ending of the session, Nifty crossed its 20,000 mark and touched 20,008 level. Earlier, Nifty’s last all time high was 19,991.85, which it hit on July 20, this year. Thus, it scaled a new record in 36 sessions.

Nearly all the stocks ended green on Monday. Out of them, Adani Ports, Adani Enterprises and Axis Bank emerged as the top gainers of the day. Shares of Adani Ports jumped 7.10 per cent, ending as the top gainer in the index. They were followed by the shares of Adani Enterprises (up 3.68 per cent) and Axis Bank (up 2.32 per cent).

One of the main reasons behind stock market rally could be the G20 declaration that emerged as a triunph for Indian diplomacy, suggested experts. The inclusion of the African Union in G20 and proposed India-Middle East-Europe Corridor have positive economic and market connotations. Inclusion of African Union in G20 served as a positive news for Bharti Airtel because of its huge presence in Africa, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The stock market sentiment was also supported by broadly positive globl cues.

Updated: 11 Sep 2023, 10:43 PM IST