Foreign institutional investors (FII) bought shares worth a net of Rs 922.84 crore and domestic institutional investors (DII) purchased shares worth a net of Rs 470.10 crore on 26 July, according to the provisional data available on the NSE.
For the month till July 26, FIIs bought shares worth a net of Rs 19,626.53 crore while DIIs sold shares worth a net of Rs 7,834.92 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.
“Markets exhibited resilience ahead of the all-important Fed policy announcements and Powell’s presser. As expected, the benchmark Nifty rebounded sharply higher–marching higher from strength-to-strength taking in its stride the expected 25 basis points interest rate hike from the US Federal Reserve. Other positive catalysts such as renewed FII buying, upbeat results from L&T and Tata Motors, and overnight gains in the US markets provided strength to markets. Technically speaking, Nifty’s technical landscape is now suggesting a desired consolidation with interweek support at the 19561 mark, while immediate hurdles are placed only at its psychological 20000 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
On Wednesday, benchmark indices NSE Nifty 50 and BSE Sensex ended in the green zone led by FMCG and Realty stocks. The Nifty 50 gained 0.50% or 97.70 points to close at 19,778.30 and the Sensex climbed 351.49 points or 0.53% to settle at 66,707.20. In sectoral indices, Nifty Bank rose 0.47%, Nifty FMCG surged 1.05%, Nifty IT gained 0.13%, Nifty PSU Bank climbed 1.50% Nifty Pharma rose 0.66%, Nifty Media jumped 0.93% Nifty Private Bank gained 0.68%, Nifty Oil & Gas rose 0.63%, and the Nifty Realty Index climbed 1.19% while Nifty Auto slipped 0.01%.
The top gainers on Nifty 50 were Larsen & Toubro, Cipla, ITC, Britannia Industries, Sun Pharma, Reliance Industries, and Axis Bank while the top losers were Bajaj Finserv, Mahindra & Mahindra, Apollo Hospitals Enterprises, Tech Mahindra, Asian Paints, Divi’s Laboratories and SBI Life Insurance Company.