Market Update

March 11, 2024

Key Figures

• Foreign investors (FIIs) net sold: Rs 6,267 crore
• Domestic institutional investors (DIIs) net bought: Rs 4,966 crore
• Sensex: Down 1,342.27 points or 1.72 percent at 76,863.71
• Nifty: Down 394.75 points or 1.63 percent at 23,866.85

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Market Activity

Provisional exchange data indicates that FIIs net sold Indian equities worth Rs 6,267 crore on March 11, while DIIs net bought shares worth Rs 4,966 crore. During the trading session, DIIs purchased shares worth Rs 15,127 crore and sold shares worth Rs 10,513 crore. In contrast, FIIs bought shares worth Rs 11,109 crore but sold shares totalling Rs 17,074 crore.

Year-to-Date Activity

For the year so far, FIIs have been net sellers of shares worth Rs 42,523 crore, while DIIs have net bought shares worth Rs 56,192 crore.

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Sectoral Performance

Sectoral participation remained largely negative, reflecting broad-based weakness across the market. Auto, banking, financials, and realty were among the key drags, weighing heavily on the benchmark indices. However, selective buying interest was seen in pharma, energy, and metal counters, which offered limited support.

Investor Sentiment

Investor sentiment remained fragile as escalating geopolitical tensions in the Middle East continued to unsettle global markets and push volatility higher. Concerns over potential disruptions to crude oil supply, rising inflationary pressures, and the possible impact on economic growth kept participants cautious. Additionally, continued foreign institutional investor selling and weakness in the rupee further dampened risk appetite.