FIIs return to Indian stocks with ₹508 crore buying, but DIIs take their foot off the pedal

Foreign institutional investors (FIIs) reversed course in Indian equities on Friday, August 14, turning net buyers of ₹508.12 crore on a provisional basis.

The move marked a sharp swing from the previous session, when FIIs had extended their selling streak with net selling of ₹510.69 crore.

FIIs bought equities worth ₹12,854.44 crore and sold shares worth ₹12,346.32 crore on Friday, resulting in net buying of ₹508.12 crore.

Domestic institutional investors (DIIs), meanwhile, remained net buyers on Friday, but their buying moderated sharply.

DIIs bought equities worth ₹356.40 crore on a provisional basis, compared with ₹4,353.09 crore of net buying in the previous session, a decline of ₹3,996.69 crore.

DIIs purchased equities worth ₹14,295.49 crore and sold shares worth ₹13,939.09 crore, resulting in net buying of ₹356.40 crore

As a result, combined FII and DII net buying stood at ₹864.52 crore on Friday.

Separately, Indian equity benchmarks failed to hold on to their intraday recovery on Friday, August 14, ending lower in a muted trading session. The Sensex slipped 71 points to 78,009, while the Nifty declined 30 points to 24,366.

The Nifty Bank fell 144 points to 57,491, while the Nifty Midcap index declined 339 points to 63,782. Market breadth also favoured declines, with the advance-decline ratio at 1:1.

Among individual stocks, Nalco fell 6% and Hindalco declined nearly 2% after Alunorte ramped up production. Tata Motors PV slipped over 4%, with JLR weighing on its Q1 performance.

Zee Entertainment saw a sharp intraday surge after SAT stayed the SEBI order. Apollo Hospitals ended as the top Nifty gainer, rising over 3% after raising its guidance.

Galaxy Surfactant surged 20% after raising its EBITDA per tonne guidance, while LG Electronics ended at the day’s high, gaining over 9% following its Q1 results. Ashok Leyland ended nearly 3% lower, despite its Q1 performance being a mild beat to estimates.

Also Read: 19 months of FII selling erases 100 months of inflows