FII, DII data- FPIs sold shares worth Rs 1500 Cr, DIIs added shares worth Rs 313 Cr on October 27, Friday
Foreign institutional investors (FII) offloaded shares worth net Rs 1,500.13 crore, while domestic institutional investors (DII) added shares worth net Rs 313.69 crore on October 27, 2023, according to the provisional data available on the NSE.
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“FPI selling continues unabated. FPIs were sellers in sectors like financials, power, FMCG and IT. The primary reason for the sustained selling is the sharp spike in US bond yields which took the 10-year yield to a 17-year high of 5%. The yield has now declined to 4.84%. With such high bond yields it is rational for FPIs to take out some money. The Israel-Hamas conflict in West Asia and the uncertainty surrounding the conflict has …
Markets rangebound! Nifty closes around 22,350, Sensex below 73,700 dragged by smallcap and IT stocks
The benchmark equity indices Nifty 50 and Sensex ended Tuesday’s trading session in negative territory. The Nifty 50 closed nearly 50 points lower to settle at 22,356.30 points. While S&P BSE Sensex closed almost 200 points lower to settle at 73,677.13 points. On the flip side, Nifty Bank clocked gains of 0.26% or 124.90 points to settle at 47,581.00.
On the sectoral front, IT and media stocks lost the most amongst their peers. The broader indices ended in the red, with smallcap and midcap stocks losing the most. The Nifty Midcap 100 closed 134 points or 0.27% lower to close the day’s trading at 49,114.90.
The losers include Bajaj Finserv, Bajaj Finance, Nestle India, Infosys, and SBI Life Insurance. The Indian Volatility Index (Ind…
Markets stage smart recovery
Equities staged a smart recovery on Wednesday, with both the benchmark indices gaining more than 1% each, snapping a three-day losing streak. Taking a cue from other Asian markets, the Sensex jumped 874.94 points, or 1.11%, to 79468.01 while the Nifty 50 rose 304.95 points, or 1.27%, to 24297.50.
The broader markets outperformed, with the BSE Midcap gaining 2.63% and the BSE Smallcap rising 2.39%. Investors wealth surged by nearly Rs 9 trillion to Rs 448.6 trillion. The market breadth was in favour of advances, as there were three gainers for every loser.
The sentiment was also lifted by the government’s relief on capital gains tax for property sales. Taxpayers can choose between a 12.5% tax rate without indexation and a tax rate of 20% with indexation when pay…