Foreign institutional investors (FII) net purchased shares worth Rs 1,165.47 crore, while domestic institutional investors (DII) net sold shares worth Rs 2,134.54 crore on July 19, Wednesday, according to the provisional data available on the NSE.
For the month till July 19, FIIs bought shares worth a net of Rs 16,325.76 crore while DIIs sold shares worth a net of Rs 10,003.90 crore. In the month of June, FIIs bought shares worth a net of Rs 27, 250.01 crore while DIIs purchased equities worth a net of Rs 4, 458.23 crore.
“Market’s record-breaking spree continued on Dalal Street, as we are in the midst of a strong bull run backed by robust foreign fund inflows, strong growth prospects, even monsoon spread out and stable corporate earnings so far, which have increased the appetite for local stocks. Technically, the Nifty got support near 19725 and bounced back sharply. The index has formed a higher bottom formation on intraday charts which is indicating further uptrend from the current levels,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities.
“As long as the index is holding 19725 the positive sentiment is likely to continue. Above the same, the market could rally till 19950-19975. On the flip side, the dismissal of 19725 could trigger short-term correction. Below the same, we could expect one quick correction till 19650-19615,” Shrikant Chouhan added.
On Wednesday, the domestic Benchmark indices NSE Nifty 50 and BSE Sensex made new all-time highs and ended broadly in green. The Nifty 50 rose 83.90 points or 0.42% to close at 19,833.15 after making a new 52-week high of 19,851.70 intraday. The Sensex jumped 302.30 points or 0.45% to settle at 67,097.44 after hitting a fresh all-time high at 67,171.38 intraday. In sectoral indices, Nifty Bank rose 0.57%, Nifty IT fell 0.06%, Nifty Private Bank rose 0.39%, Nifty Financial Services gained 0.57%, Nifty PSU Bank surged 1.95%, and Nifty Media jumped 1.13%.
Foreign institutional investors (FII) or Foreign portfolio investors (FPI) are those who invest in the financial assets of a country while not being part of it. On the other hand, domestic institutional investors (DII), as the name suggests, invest in the country they’re living in. Political and economic trends impact the investment decisions of both FIIs and DIIs. Additionally, both types of investors – foreign institutional investors (FIIs) and domestic institutional investors (DIIs) – can impact the economy’s net investment flows.