Foreign Institutional Investors Sell Indian Equities Worth Rs 3,296 Crore, Domestic Institutional Investors Purchase Rs 8,594 on March 2

Indian Equities Update: March 2, 2024

Foreign and Domestic Investor Activity

On March 2, 2024, foreign investors (FIIs) net bought Rs 3,296 crore worth of Indian equities, while domestic institutional investors (DIIs) net bought shares worth Rs 8,594 crore, according to provisional exchange data.

Trading Session Details

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During the trading session, DIIs purchased shares worth Rs 21,111 crore and sold shares worth Rs 12,517 crore. In contrast, FIIs bought shares worth Rs 12,737 crore but sold shares totalling Rs 16,033 crore.

Year-to-Date Performance

For the year so far, FIIs have been net sellers of shares worth Rs 50,581 crore, while DIIs have net bought shares worth Rs 116.223 crore.

Market Update

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At close, the Sensex was down 1,048.34 points or 1.29 percent at 80,238.85, and the Nifty was down 312.95 points or 1.24 percent at 24,865.70. The Nifty midcap and smallcap indices fell 1.5 percent each.

Sectoral Performance

Except metals, all other sectoral indices ended lower with Auto, Consumer Durables, and Oil & Gas down 2 percent each. The biggest Nifty losers were L&T, Interglobe Aviation, Adani Ports, Tata Motors Passenger Vehicles, and Adani Enterprises, while gainers included Bharat Electronics, Sun Pharma, ONGC, Dr Reddy's Labs, and Hindalco.

Market View

Indian equities ended the session on a cautious note, with the Nifty witnessing volatility through the day as escalating geopolitical tensions weighed on investor sentiment. Domestic macros remain resilient, supported by steady earnings expectations and sustained SIP inflows. However, markets are expected to remain headline-driven in the near term, with crude trajectory and geopolitical cues likely to dictate sentiment.