Foreign institutional investors (FII) offloaded shares worth net Rs 455.59 crore, while domestic institutional investors (DII) added shares worth net Rs 721.52 crore on November 21, 2023, according to the provisional data available on the NSE.
For the month till November 21, 2023, FIIs sold shares worth net Rs 7,675.90 crore while DIIs bought shares worth net Rs 8,501.75 crore. In the month of October, FIIs offloaded shares worth net Rs 29,056.61 crore while DIIs added equities worth a net Rs 25,105.86 crore.
“Domestic equities bounced back amid a rally in global markets and ‘overweight’ rating upgrade by Goldman Sachs. The global sentiments were positive as US treasury yields and dollar index continue heading lower on expectation that US interest rates has peaked out. Investors are further awaiting cues from US existing homes sales data and FOMC meeting minutes due this week. On the domestic front, the focus is likely to shift to the primary market as IREDA has opened for subscription today and four more IPOs are lined up for Wednesday. This includes Tata Group company Tata technologies, FedBank Financial, Gandhar Oil and Flair Writing. Overall we expect the market to continue to trade in broader range with positive bias,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Service.
The benchmark equity indices ended higher on Tuesday. The NSE Nifty 50 gained 89 points or 0.45% to settle at 19,783.40, while the BSE Sensex added 275.63 points or 0.42% to 65,930.78.
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.