DIIs Pump In Rs 5,165 Cr As FIIs Extend Selling
Domestic institutional investors (DIIs) continued to support Indian equities on June 8, while foreign portfolio investors (FPIs) remained net sellers amid a sharp decline in benchmark indices and weakness in the rupee.According to exchange data, DIIs purchased shares worth Rs 16,683.18 crore and sold equities worth Rs 11,517.94 crore, resulting in a net inflow of Rs 5,165.24 crore.
In contrast, FPIs bought shares worth Rs 8,842.08 crore but offloaded equities worth Rs 14,397.75 crore, leading to a net outflow of Rs 5,555.67 crore.
The divergent flow pattern came as Indian equity benchmarks ended sharply lower, extending losses for a second consecutive session. The Sensex fell 719 points to close at 73,524, while the Nifty declined 244 points to settle at 23,123, slipping below the 23,150 mark.
Selling pressure was broad-based, with 24 of the 30 Sensex constituents and 40 of the 50 Nifty stocks ending the day in negative territory. Market breadth remained weak, with the NSE advance-decline ratio standing at nearly 1:3.
Heavyweight stocks, elevated crude oil prices and risk-off sentiment weighed on investor confidence, keeping market participants on the sidelines.
The weakness in equities was mirrored in the currency market, with the rupee depreciating 56 paise to settle at 95.74 against the US dollar.
Analysts attributed the decline in the domestic currency to higher crude oil prices, a stronger US dollar and heightened geopolitical tensions, which have increased risk aversion among global investors and continued to weigh on foreign investment flows into Indian markets.
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