FII DII data: FPI bought shares worth Rs 790.40 crore, DII sold shares worth Rs 2,964.23 crore on Friday, 7 July

Foreign institutional investors (FII) bought shares worth a net of Rs 790.40 crore while domestic institutional investors (DII) offloaded shares worth a net of Rs 2964.23 crore on Friday, July 7, 2023, according to the data available on NSE.

For the month till July 7, FIIs bought shares worth a net Rs 9,164.85 crore while DIIs sold shares worth a net Rs 6,878.21 crore. In the month of June, FIIs bought shares worth a net of Rs 27, 250.01 crore while DIIs purchased equities worth a net of Rs 4, 458.23 crore.

The domestic equity indices NSE Nifty 50 and BSE Sensex ended Friday’s session in the red. The NSE Nifty 50 sank 165.50 points or 0.85% to 19,331.80 and BSE Sensex tanked 505.19 points or 0.77% to 65,280.45.

“After the recent surge that took the benchmark indices to new highs, the market is likely to move to a consolidation mode. The latest US non-farm jobs data (2.09 lakh jobs created in June) shows that the labour market is cooling off. But since core inflation remains sticky around 5% the Fed is likely to raise rates by 25bp on 26th July. Anticipating this, bond yields have moved up with the 10-year yield above 4%. This macro construct will restrain the ongoing rally in the mother market, and this will have its impact on the Indian market, too,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

“Moreover, DIIs have emerged as major sellers during the last 2 trading sessions with cumulative selling of Rs 5316 crores. At lower levels FIIs may again buy aggressively since India continues to be a consensus favourite destination for FIIs. In brief, the market is likely to move into a consolidation phase. Financials will support the market during dips since the Q1 results will be good and valuations are reasonable,” V K Vijayakumar added.

Foreign institutional investors (FII) or Foreign portfolio investors (FPI) are those who invest in the financial assets of a country while not being part of it. On the other hand, domestic institutional investors (DII), as the name suggests, invest in the country they’re living in. Political and economic trends impact the investment decisions of both FIIs and DIIs. Additionally, both types of investors  –  foreign institutional investors (FIIs) and domestic institutional investors (DIIs) – can impact the economy’s net investment flows.