FIIs make big bang buying of nearly ₹12,771 cr in 1 day; large deals in Adani stocks
Foreign institutional investors (FIIs) made a big bang buying on Thursday in Indian equities to a whopping nearly ₹12,771 crore. This would be the largest single-day buying from FIIs in the current year. However, it needs to be noted that the latest FIIs inflow also has likely included large bulk deals in four Adani stocks. Meanwhile, domestic institutional investors (DIIs) continued to be net buyers in the equities. The institutional funds’ flow was on a positive note despite broader markets ending in the red.
As per NSE data, FIIs buying value was at ₹20,596.11 crore, while they sold ₹7,825.30 crore — registering an inflow of a breath-taking ₹12,770.81 crore in Indian equities on Thursday.
Adani Group’s flagship company Adani Enterprises along with Adani Transmission, Adani Green Energy, and Adani Ports have witnessed massive bulk deals.
On the other hand, DIIs buying value was at ₹5,948.15 crore while selling value stood at ₹3,819.35 crore — taking the inflow at ₹2,128.80 crore in the Indian equities.
FIIs have been net sellers for the past six days between February 22nd to March 1st, with an outflow of ₹10,474.01 crore. While DIIs have extended their buying spree for the seventh day with an inflow of ₹13,827.59 crore.
On Thursday, Sensex and Nifty 50 erased their previous gains as feeble global peers dampened sentiment owing to fresh highs in bond yields.
Sensex closed at 58,909.35 lower by 501.73 points or 0.845. While Nifty 50 tumbled by 129 points or 0.74% to finish at 17,321.90. India’s volatility index ended marginally lower.
Ajit Mishra, VP – of Technical Research, at Religare Broking, said, “Markets reversed Wednesday’s gain and lost over half a percent, tracking feeble global cues. The tone was negative from the beginning citing pressure in the IT and banking majors, which further deteriorated with a decline in select index majors like Reliance, Maruti, and ITC as the session progressed. Meanwhile, stability on the broader front capped the damage to some extent.”
Going forward, Mishra added, “Global factors are largely dictating the trend and we feel a further decline in the US markets may fade away the hopes of sustained recovery. Considering the scenario, it is prudent to stay light and prefer stocks that are showing relatively higher strength. On the index front, the 17100-17200 zone would continue to act as strong support.”
Overall, in February month, FIIs outflow stood at ₹11,090.64 crore while DIIs inflow came in at ₹19,239.28 crore.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.