Fund flow today | FIIs buy shares worth ₹1,261.13 crore, DIIs emerge net sellers

Indian stock indices closed higher on Monday, with the Sensex crossing the 70,000 mark. The gains were led by banking, IT and metal shares.

Foreign institutional investors (FIIs) sold stocks of Indian companies worth ₹9,449.53 crore and bought stocks for ₹10,710.66 crore, resulting in an inflow of ₹1,261.13 crore, according to NSE data.

Domestic institutional investors (DIIs) bought equities worth ₹8,298.69 crore and offloaded shares worth ₹9,331.61 crore, resulting in an outflow of ₹1,032.92 crore, the exchange data showed.

The BSE 30-share index Sensex rose to a record intra-day high of 70,057.83 points, before closing up 102.93 points, or 0.15%, at 69,928.53 points.

The NSE Nifty hit a record trading high of 21,026.10. The 50-share index gained 27.70 points, or 0.13%, to end at 20,997.10. 

“The market crossed 70,000 levels today, while the broader market outperformed the main indices. However, profit booking was evident at higher levels as traders anticipated clues from tomorrow’s significant data releases on inflation from the US and India, as well as the IIP. While US inflation is predicted to remain stable, the market anticipates a rise in domestic inflation. The better-than-expected US job data and a moderate increase in US bond yields from the recent lows, however, also encouraged investors to book profits at higher levels,” said Vinod Nair, head of research at Geojit Financial Services. 

“Investors will be closely watching the upcoming FOMC meeting tomorrow for clues about potential future rate cuts while expecting to keep rates the same this time,” added Nair.

Foreign portfolio investors (FPIs) have pumped ₹26,505 crore into domestic equities in the first six trading sessions of December.

In the broader market, BSE largecap advanced by 0.21%, BSE midcap by 0.91%, while smallcap rose by 0.71%.

Among sectoral indices, BSE commodities rose by 1.16%, BSE metal by 1.1%, BSE services by 0.95%, BSE capital goods by 0.76%, BSE utilities by 0.67%, and BSE auto by 0.48%. BSE healthcare dropped 0.38% and oil & gas by 0.15%.

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Published: 11 Dec 2023, 08:05 PM IST