In a first, on October 24, monthly FII outflows crossed Rs 1 lakh crore; DII inflows touched Rs 97,000 crore monthly. During the day’s trading, Domestic Institutional Investors (DII) net bought shares worth Rs 3,037 crore. On the other hand, Foreign Institutional Investors (FIIs) net sold shares worth Rs 4,159 crore, provisional data from NSE showed.
DIIs bought Rs 15,203 crore worth of shares and sold shares worth Rs 11,044 crore. Meanwhile, FIIs purchased Rs 14,210 crore in shares and offloaded equities worth Rs 17,247 during the trading session.
In the year so far, FIIs have net sold shares worth Rs 2.39 lakh crore, while DIIs have bought Rs 5.15 lakh crore shares.
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Market view
At close, the Sensex was down 662.87 points or 0.83 percent at 79,402.29, and the Nifty was down 218.60 points or 0.90 percent at 24,180.80.
IndusInd Bank, BPCL, Adani Enterprises, Shriram Finance, and M&M were among the top losers on the Nifty, while gainers were ITC, Sun Pharma, Britannia Industries, HUL, and Axis Bank.
Among sectors, except FMCG, all other indices ended in the red.
Commenting on today’s market, Krishna Appala, Senior Research Analyst, Capitalmind Research noted that the market correction continued, with Nifty down 7.8 percent from its recent peak and volatility remaining high as India VIX hits 14.7. Appala added that the Q2 results have shown a slowdown in consumer sectors, including autos and FMCG, where sluggish demand, rising competition, and high input costs have impacted margins. “While a strong monsoon could potentially boost rural demand, urban markets remain under pressure, leading to weaker sales and profits across the board,” he said.
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Appala also noted that FIIs continue to sell aggressively. “This ongoing selling pressure, combined with earnings downgrades, is cooling off market valuations. For investors, this may present an opportunity to gradually accumulate high-conviction stocks as the market works through this correction phase,” he said.
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