Stories
FIIs Offload Rs 6,121 Crore as Indian Equities Snap Two-Day Winning Streak
- •Foreign institutional investors were net sellers of Rs 6,121.37 crore in Indian equities on Wednesday while domestic institutional investors bought Rs 4,596.57 crore.
- •The market snapped its two-day gaining streak as the Nifty fell 173 points to close at 22,603 and the Sensex declined 429 points to 72,639 following the RBI rate hike and cautious commentary.
- •Rate-sensitive sectors like realty and auto dropped up to 2 percent and the rupee weakened against the dollar to slip to a five-month low of 96.78 per dollar.
- •Titan and metal stocks including Hindalco and JSW faced heavy selling pressure while Kotak Mahindra Bank and capital market names like BSE and Angel bucked the trend to gain 2 percent each.
Key Questions Answered
The market snapped its two-day gaining streak due to a Reserve Bank of India (RBI) 25 bps rate hike and cautious commentary, which weighed on investor sentiment. Consequently, the Sensex declined 429 points to close at 72,639 and the Nifty fell 173 points to 22,603.
Foreign institutional investors (FIIs) were net sellers of ₹6,121.37 crore in Indian equities, buying ₹12,577.96 crore and selling ₹18,699.33 crore. Meanwhile, domestic institutional investors (DIIs) acted as net buyers, purchasing ₹18,707.03 crore and selling ₹14,110.46 crore to record net buying of ₹4,596.57 crore.
The rupee weakened against the dollar to touch a five-month low of 96.78/$ following the rate hike. Rate-sensitive sectors like realty and auto fell with declines of up to 2%, while NBFCs and small finance stocks such as AU SFB and Chola Investment slipped.
