Foreign institutional investors (FIIs) sold shares of Indian companies for ₹82.96 crore for the second consecutive session on Monday, while domestic institutional investors (DIIs) bought shares worth ₹934.87 crore on the same day.
Both the Nifty and Sensex ended in the negative for the second straight day, with ITC, Reliance Industries (RIL), and Kotak Mahindra Bank being the main drags on the market. FIIs’ selling streak resulted in an outflow of ₹82.96 crore, while DIIs recorded an inflow of ₹934.87 crore from Indian stocks on July 24.
Market volatility has re-emerged due to Q1 results falling below expectations, particularly in sectors like IT and FMCG, which are facing weak demand and high input costs. However, the pharma stocks are showing more stability in anticipation of better demand from developed economies, reduced US pricing issues, and improved operating margins.
Investors are also keeping a close eye on the upcoming FOMC meeting, which will address rate hikes and quantitative tightening measures, potentially impacting FIIs inflows. The market’s performance is also influenced by foreign investment outflows and rising crude oil prices, making it a cautious environment for investors awaiting the US Federal Reserve’s monetary policy decision.
