Foreign institutional investors (FIIs) turned net sellers once again on December 29, offloading Rs 2,760 crore worth of Indian equities, marking the second-highest sell-off by foreign investors this month, according to provisional exchange data. The largest FII outflow in December was recorded on December 9, when overseas investors sold shares worth Rs 3,760 crore.
In contrast, domestic institutional investors (DIIs) stepped in to cushion the markets, net buying shares worth Rs 2,644 crore during the session.
Data showed that FIIs purchased equities worth Rs 6,435 crore but sold shares totalling Rs 9,195 crore on the day. DIIs, meanwhile, bought stocks worth Rs 15,403 crore and sold Rs 12,759 crore, resulting in net inflows.
On a year-to-date basis, foreign investors have remained net sellers, having pulled out Rs 2.84 lakh crore from Indian equities so far this year. In comparison, DIIs have provided strong support to the markets, with net investments of Rs 7.72 lakh crore over the same period.
Indian equity benchmarks ended Monday’s trading session on a weak note as investors remained cautious ahead of the December derivatives expiry, amid subdued year-end volumes and persistent FII outflows.
The Nifty 50 slipped below the 25,950 level, closing nearly 100 points lower, while the Sensex declined 346 points to settle at 84,695. The Bank Nifty also closed in the red, shedding 79 points to end below the 59,000 mark. Broader markets mirrored the weakness, with the Nifty Midcap and Smallcap indices falling around 0.5 percent each.
Sectorally, metal stocks gave up early gains as global metal prices corrected. Selling pressure was also visible across financials, IT, realty, healthcare and consumption-linked stocks, reflecting a risk-off sentiment.
Railway stocks witnessed profit booking following recent sharp rallies, with IRFC and RVNL sliding nearly 5 percent each. On the other hand, Nifty Media, FMCG and PSU indices managed to close marginally higher, supported by selective buying in defensive and energy-related stocks.
Oil marketing companies advanced after crude oil prices eased, offering relief to the sector. Stocks such as HFCL, NCC and Titagarh Rail Systems ended 2–5 percent higher ahead of their exclusion from the futures and options (F&O) segment.
Among Nifty 50 stocks, Tata Steel, Tata Consumer Products, Asian Paints and Grasim emerged as top gainers, while Adani Ports, Power Grid, HCL Technologies, Trent, BEL and Bharti Airtel were among the major laggards.
In the commodities market, gold and silver witnessed some profit booking after hitting record highs in recent sessions.
Disclaimer: Investors are advised to consult certified financial advisors before making any investment decisions.
