Foreign Institutional Investors Sell Rs 341 Crore Worth of Shares, Domestic Institutional Investors Buy Rs 441 Crore on May 7

Market Update: Domestic Investors Boost Indian Stocks Amid FII Net Sales

On May 7, the Indian stock market witnessed a mixed trading session, with domestic institutional investors (DIIs) playing a crucial role in boosting the market. According to the latest data, DIIs net bought shares worth Rs 441 crore, while foreign investors (FIIs) net sold shares worth Rs 341 crore.

Transaction Details

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During the trading session, DIIs purchased shares worth Rs 17,032 crore and sold shares worth Rs 16,591 crore, resulting in a net buying of Rs 441 crore. In contrast, FIIs bought shares worth Rs 17,998 crore but sold shares totalling Rs 18,339 crore, resulting in a net sale of Rs 341 crore.

Year-to-Date Performance

For the year so far, FIIs have been net sellers of shares worth Rs 2.46 lakh crore, while DIIs have net bought shares worth Rs 3.05 lakh crore.

Market Performance

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At close, the Sensex was down 114 points or 0.15 percent at 77,844.52, and the Nifty was down 4.30 points or 0.02 percent at 24,326.65.

According to Ajit Mishra, Senior Vice President, Research, Religare Broking, the broader markets continued to outperform, with the midcap index hitting a fresh record high and gaining over 1%. The smallcap index also advanced nearly 1%, reflecting sustained risk appetite and improving market breadth.

Mishra noted that the positive undertone was primarily driven by a sharp cooling in crude oil prices amid optimism surrounding a potential US–Iran peace agreement. Stability in the rupee, improving global sentiment, and continued buying interest in select earnings-driven counters further supported the move. However, persistent geopolitical uncertainty and cautious institutional positioning ahead of key developments kept the upside in check.

Despite the favourable cues, Mishra observed that the Nifty continues to face a lack of momentum on the upside due to the resistance posed by key moving averages (100 and 200 DEMA) in the 24,550–24,750 zone. However, the noticeable traction across sectors is offering ample trading opportunities. Mishra recommended a stock-specific approach across sectors, while remaining selective and avoiding the relatively weaker IT space.