Foreign institutional investors (FII) bought shares worth net Rs 722.76 crore, while domestic institutional investors (DII) added shares worth net Rs 2,406.19 crore on August 16, 2023, according to the provisional data available on the NSE.
For the month till August 16, 2023, FIIs sold shares worth net Rs 9,148 crore while DIIs bought shares worth net Rs 9,220.65 crore. In the month of July, FIIs bought shares worth net Rs 13,922.01 crore while DIIs sold equities worth net Rs 1,184.33 crore.
“While volatility continued to remain the ongoing theme, markets rebounded in late trades amid buying in IT, realty and power stocks, although metals came under hammering on worries slackening demand in China could hurt sentiment going ahead. Despite the recovery, markets are likely to witness choppy trends in the near term on concerns that higher inflation in both domestic and global economies could delay the end of the rate tightening cycle and may slow down growth further. Technically, the bullish candle on daily charts and higher bottom formation on intraday charts are indicating a further uptrend from the current levels. For the trend following traders, 19, 400 would be the key level to watch out for and above the same, the market could move up to 19,550 – 19,575. On the flip side, a fresh sell-off could be seen after the dismissal of 19,400. Below which, the index could retest the level of 19,350 – 19,300,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities.
On Wednesday, domestic indices ended in the green. The NSE Nifty 50 rose 30.45 points or 0.16% to 19,465 and BSE Sensex climbed 137.50 points or 0.21% to 65,539.42. In sectoral indices, Bank Nifty plunged 0.33%, Nifty Financial Services tumbled 0.34%, Nifty Private Bank fell 0.46%, and Nifty Metal tanked 0.94%, while Nifty Media soared 1.20%, Nifty FMCG rose 0.41%, Nifty IT gained 0.59%, and Nifty Pharma climbed 0.61%. The top gainers on Nifty 50 were Apollo Hospital Enterprises, Ultratech Cement, NTPC, Infosys and Tata Motors, while the top losers were Tata Steel, Adani Ports, Hindalco Industries, HDFC Life Insurance and Bharti Airtel.
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.