FIIs extend selling for 2 days in row, outflow of ₹627 crore on 12 June; DIIs inflow accelerates to ₹1,794 crore

As per NSE data, cumulatively, FIIs buying value stood at ₹6,321.86 crore and selling value at ₹6,321.86 crore on June 12th — registering an outflow of ₹626.62 crore in Indian equities.

On the contrary, DIIs purchased ₹6,663.64 crore worth of equities, while they offloaded ₹4,869.79 crore — recording an inflow of ₹1,793.85 crore today.

Today, Indian markets closed higher but the upside was at a limited space with buying in IT, auto, consumer durables, metal, and oil & gas stocks. Banking stocks were under pressure. Sensex ended at 62,724.71, up by 99.08 points or 0.16%. Nifty 50 ended at 18,601.50, surging 38.10 points or 0.21%.

Talking about the current market performance, Ajit Mishra, VP – Technical Research, at Religare Broking said, “Markets traded dull but managed to end marginally in the green, thanks to firm global cues. After the initial uptick, the Nifty oscillated in a narrow range till the end and finally closed at 18,601.50 levels.”

Further, Mishra added, “meanwhile, the movement on the sectoral front kept the traders busy wherein IT and realty posted decent gains while banking and financials remained under pressure. The broader indices continued their outperformance and gained in the range of 0.60%-0.90%.”

Last week, on Friday, FIIs sold ₹308.97 crore in equities, however, DIIs pumped in ₹1,245.51 crore.

In the trading week that ended on June 9th, both FIIs and DIIs were net buyers with an inflow of ₹970.73 crore and ₹1939.76 crore respectively.

Going ahead, Mishra said, “It is a normal pause after the recent dip and participants shouldn’t read much into it. We feel the performance of the banking index, which is currently trading closer to the crucial support zone of short-term moving average i.e. 20 EMA, would play a crucial role in the next directional move. Meanwhile, we reiterate our view to focus more on stock selection and risk management.”

On Tuesday, markets will react to CPI inflation for May month and IIP data for April month. 

Also, Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities said, ” Nifty is likely to consolidate around the 18,600 level on account on the back of strong put writer’s support. The maximum call OI is placed at 18,700, which will continue to act as an immediate resistance.”

Ramani added, “Bank Nifty has given a trendline breakdown and closed below the key 44,000 level on the daily chart, connecting the lows of 5th May, 25th May & 1st June. The next support for Bank Nifty is placed at 43,700. If the selling intensifies, Bank Nifty can even test 43,400 zones on the downside.”

Updated: 12 Jun 2023, 06:08 PM IST