New Delhi, October 17 (IANS). Foreign institutional investors (FIIs) invested Rs 1,166 crore in equities in the Indian stock market on Friday. The reason for this was the return of momentum in the market. This information was given by the analyst on Saturday.
However, on a weekly basis, FIIs remained sellers and sold Rs 8,991 crore last week, which was much lower than the previous week's sale of Rs 30,294 crore, indicating a change in sentiment among foreign investors.
On the other hand, domestic institutional investors (DIIs) remained net buyers and invested Rs 7,813 crore in equities last week. However, on Friday they had sold Rs 3,661 crore.
From the beginning of this month till now (till October 16), FIIs have sold Rs 48,769 crore, while DIIs have invested Rs 48,168 crore during this period.
Analysts say a significant reduction in FII selling and reversal of fund flows on Friday indicate that market sentiment is stabilising, although higher crude prices may still put the recovery at risk.
He further said that investors are keeping an eye on the trend of Brent crude prices and the ongoing incidents between America and Iran. At the same time, domestically the focus is on Q2FY27 earnings and RBI MPC minutes coming in the middle of the week.
Last week saw a strong comeback in the benchmark indices, with Nifty continuing its recovery for the second consecutive week. A strengthening rupee and softening of US 10-year Treasury yields supported market sentiments, although Brent crude hovering around $105 per barrel kept inflation concerns and external risks intact.
–IANS
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