Net FII/FPI Investment in Indian Equities Surpasses DIIs' Withdrawal by Rs 2191 Crore
Market Update: February 23, 2024
Key Statistics
- Foreign investors (FIIs/FPIs) net bought Rs 3483 crore worth of Indian equities on February 23, their highest buying since February 3.
- Domestic institutional investors (DIIs) net sold shares worth Rs 1292 crore.
- For the year so far, FIIs have been net sellers of shares worth Rs 39172 crore, while DIIs have net bought shares worth Rs 82034 crore.
Market Performance
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
The Nifty 50 extended its winning streak for a second consecutive session, climbing 141 points to settle at 25,713. Market participation saw an uptick, with NSE cash volumes rising 9% over the previous day.
Sectoral Performance
- PSU Banks, Auto, and FMCG posted the strongest gains.
- IT, Chemicals, and Consumer Durables ended as laggards.
- Nifty Midcap 100 dipped 0.43%, while Nifty Smallcap 100 edged up 0.29%.
Currency and Commodities
Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
The Rupee strengthened 10 paise to 90.88, fueled by a softer dollar following the US court's tariff ruling and declining crude prices.
Key Stocks
- Adani Ports, Kotak Mahindra Bank, and HDFC Life led Nifty gainers.
- Hindalco, Wipro, and Infosys faced selling pressure as top losers.
Investor Takeaway
Investors should be aware of the market's reaction to global events and their potential impact on Indian equities.
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