Foreign institutional investors (FII) offloaded shares worth net Rs 758.55 crore, while domestic institutional investors (DII) purchased shares worth net Rs 28.11 crore on September 7, 2023, according to the provisional data available on the NSE.
For the month till September 7, 2023, FIIs sold shares worth net Rs 8,609.25 crore while DIIs bought shares worth net Rs 5,716.92 crore. In the month of August, FIIs offloaded shares worth net Rs 20,620.65 crore while DIIs added equities worth net Rs 25.16.95 crore.
“The domestic market initially opened with a lackluster performance, influenced by weak global cues. However, as the day progressed, a decline in US bond yields and crude oil prices injected some positivity into the market. This optimism was most prominent in banking stocks. Interestingly, mid- and small-cap stocks managed to retain investor interest even though their valuations are relatively high. Nonetheless, the persistently weak trade data from China continues to cast a shadow over the global market’s outlook,” said Vinod Nair, Head of Research at Geojit Financial Services.
On Thursdays, Indian benchmark indices continued their winning streak and ended the trading day in the green territory, paring the corrections accrued during the intraday. The NSE Nifty 50 gained 0.18% to settle at 19,611.05, while the BSE Sensex added 100.26 to 65,880.52. Nifty Next 50 and Nifty Midcap 50 led the gains among the broader indices. The volatility index (India VIX) tumbled by as much as 1.27%. Nifty Bank shed as much as 123.05 points to 44,409.10.FMCG and Pharma were the top gainers among the sectoral indices with gains of 1% and 0.90% respectively, while the Nifty Realty, PSU Bank, and Metal sectors faced sharp corrections.
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.