FIIs sell Rs 931 crore on September 11, DIIs buy Rs 1,968 crore

As per the latest business developments, Foreign institutional market participants remained net sellers on Friday, offloading Rs 930.90 crore of Indian equities, while domestic institutional market participants bought a net Rs 1,968.17 crore, according to NSE data.

FIIs bought shares worth Rs 12,616.89 crore and sold Rs 13,547.79 crore. DIIs, in the meantime, bought Rs 15,109.58 crore and sold Rs 13,141.41 crore.

With Friday’s flows, FIIs’ net buying for the month of September stands at Rs 579 crore, while DIIs have bought a net Rs 24,987 crore so far this month.

On a year-to-date basis, FIIs have sold a net Rs 1.89 lakh crore in the cash market, while DIIs have invested around Rs 3.51 lakh crore.

Indian equities ended the week softer amid elevated crude prices and persistent foreign selling. On Friday, the Nifty 50 declined 0.3% to 23,398, after falling as much as 1% to an intraday low of 23,231. The index ended the week down 2.1%. Midcap 100 and Smallcap 100 declined 0.3% and 0.6%, respectively. Private Banks outperformed, while Realty was among the key laggards, with the Nifty Realty index hitting a more than two-month low.

Indian equities are likely to stay under pressure, according to Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services.

“Brent crude has crossed the US$100/bbl mark and surged towards US$110/bbl, with intensifying West Asian tensions raising concerns over supply disruptions. Rising crude prices have pushed global bond yields elevated, with the US 10-year Treasury yield approaching 5%, increasing pressure on equity valuations and raising expectations of a more hawkish Fed stance. The indian rupee depreciated to Rs 95.6/US$, while persistent FII selling further noted to the pressure,” Khemka stated.

In the primary market, the NSE announced a price range of Rs 1,700–1,785 per share for its IPO, which will open for subscription on September 17 and is anticipated to mobilize around Rs 22,662 crore. Market participants will focus the week ahead on India’s August CPI and WPI inflation, the US Fed policy decision, US retail sales and industrial production, with crude prices, the indian rupee and global yields remaining key monitorables.