Foreign Investors Sell Indian Stocks Worth Rs 4111 Crore, Domestic Institutions Buy Rs 6748 Crore on May 8

Market Volatility Continues as Sensex Declines 516 Points

Foreign investors (FIIs) net sold shares worth Rs 4,111 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 6,748 crore on May 8. The trading session saw DIIs purchasing shares worth Rs 21,297 crore and selling shares worth Rs 14,549 crore. In contrast, FIIs bought shares worth Rs 15,083 crore, but sold shares totalling Rs 19,194 crore.

Net Buying and Selling by FIIs and DIIs

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The market witnessed a decline at close, with the Sensex falling 516 points, or 0.7%, to settle at 77,328. The Nifty also declined, falling 150 points, or 0.6%, to settle at 24,176.15.

According to Ajit Mishra, SVP, Research, Religare Broking, the weakness in the market was largely led by banking and financial stocks, while IT and pharma showed relative resilience. Broader markets, however, outperformed the benchmarks, with midcap and small-cap indices ending flat to marginally positive, reflecting continued stock-specific interest.

The decline was primarily driven by a fresh spike in crude oil prices, with Brent crude moving back above the $100 mark amid renewed military exchanges between the US and Iran, dampening hopes of a near-term peace agreement. Additionally, continued weakness in the rupee and cautious institutional positioning ahead of the weekend further capped risk appetite. Stock-specific earnings reactions remained mixed, adding to the choppiness in the market.

Ajit Mishra advised participants to maintain a stock-specific approach, preferring pharma, energy, auto, and select metal counters, while remaining selective across other sectors.

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