FIIs turn sellers, DIIs remain buyers as markets snap 7-day losing streak

Foreign institutional investors (FIIs) turned net sellers in Indian equities on Thursday, while domestic institutional investors (DIIs) continued to buy, according to provisional exchange data.

FIIs sold equities worth ₹583.36 crore on a net basis, while DIIs were net buyers of ₹3,537.71 crore.

The shift in FII flows came a day after foreign investors had returned to buying, with net purchases of ₹407.99 crore on Wednesday. DIIs also remained buyers that day, picking up equities worth ₹3,973.72 crore. Together, the two investor groups recorded combined net buying of ₹4,381.71 crore on Wednesday.

The latest data came as Indian equities snapped a seven-session losing streak on Thursday. The Nifty reclaimed the 24,200 mark as buying broadened across the market, with nearly 40 Nifty stocks closing higher.

The Sensex gained 628 points to 77,538, while the Nifty rose 154 points to 24,232. The Nifty Bank advanced 256 points to 57,496, and the Midcap index gained 263 points to 63,672. Market breadth also improved, with the advance-decline ratio at 3:2.

Kotak Mahindra Bank, ITC, Bharti Airtel and Hindustan Unilever were among the biggest contributors to the Nifty’s gains. Eternal was the top Nifty gainer, rising more than 2% on strong volumes.

Auto stocks recovered from recent weakness and ended largely higher, with Maruti Suzuki among the top gainers. Midcap IT stocks also continued to outperform, with Coforge and Persistent Systems gaining around 3% each.

MCX and Muthoot Finance surged 4-5% after gold prices rose sharply, while Premier gained 4% following a positive outlook for FY28. Crompton rose 3% after announcing its FY29 and FY31 targets at its Investor Day.

Also Read: Nifty Outlook for August 21: Can the 7-day losing streak break pave the way for a recovery?

LIC gained 2% after the stock exited the F&O ban. Sugar stocks extended their recent rally, rising as much as 20% amid higher sugar prices.

On the other hand, Hindalco was the top Nifty laggard despite aluminium prices moving higher. PFC and REC fell as much as 3% following Morgan Stanley downgrades, while defence stocks declined for a second straight session, with Bharat Dynamics falling 3%.