Fiis Selling: Foreign investors sold fiercely on Tuesday 26 August in the Indian stock market. According to temporary data from the exchange, foreign institutional investors (FIIs) purely sold shares worth Rs 6,517 crore on this day. This is their largest selling after the last three months i.e. 20 May. On the other hand, domestic institutional investors (DIIs) took advantage of this opportunity and bought shares worth Rs 7,060 crore. This was his biggest net purchasing since August 8.
Foreign investors on Tuesday bought a total shares of Rs 44,147 crore during trading and sold shares worth Rs 50,663 crore. In this way he purely sold Rs 6,517 crore. On the other hand, DIIS bought shares worth Rs 22,000 crore and sold shares worth Rs 14,940 crore. That is, he purely purchased Rs 7,060 crore.
This year, FIIs have sold shares worth Rs 1.97 lakh crore so far, while DIS has purchased Rs 4.84 lakh crore during this period.
This selling of foreign investors on the stock market also saw a direct impact. The Sensex fell at 849.37 points, or 1.04% to close at 80,786.54. The Nifty fell 255.70 points or 1.02% to 24,712.05. The BSE Midcap index saw a decline of 1.3% and the smallcap index by 1.7%.
The largest Nifty’s largest losques included Shriram Finance, Sun Pharma, Tata Steel, Bajaj Finance and Trent. At the same time, the shares that recorded the edge were Eicher Motors, HUL, Maruti Suzuki, Nestle India and ITC. All the sectoral index, except FMCG, closed in red mark.
Nandish Shah, Deputy Vice President of HDFC Securities, said the market suffering was even deeper into midcap and smallcap shares. The Nifty Midcap 100 index broke 1.62%, while the Nifty Smallcap index fell more than 2%. The advanced-decline ratio in BSE was 0.42, which suggests that the number of falling shares was much higher than the shares that grew for the third consecutive day.
According to Shah, Nifty has broken its 20 and 50 days Dema support level. Now it is close to filling the entire upward gap built between 24,673 and 24,852. If the Nifty goes below 24,673, the next support level appears near 24,340. Looking upwards, the level of 24,900 can work as short-term resistance.
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