New Delhi, Aug 15 (IANS) Foreign institutional investors (FIIs) remained net buyers in India for the third consecutive week at Rs 1,228.24 crore, provisional exchange data showed Saturday.
DIIs remained consistent buyers, with net purchases recorded in all sessions except the first, committing nearly Rs 9,286 crore even as Nifty drifted lower through the week, from 24,583 to 24,366 due to crude prices staying elevated.
FIIs opened with two sessions of buying, reversed into two sessions of selling and returned as buyers on the final day.
On the other hand, domestic institutional investors (DIIs) also maintained their buying momentum, recording net purchases of Rs 7,768 crore, with inflows observed in four of the five trading sessions.
Analysts said that FIIs sold heavily through the first two weeks of the month, pulling out nearly Rs 4,205 crore, Rs 3,893 crore respectively and the index bottomed at 23,767 at the peak of selling pressure.
FIIs flipped to buying from July 28 onwards, and the Nifty recovered to 24,774 by August 3, but cumulative FII flows remain negative at around Rs 3,174 crore, indicating that three weeks of buying have not fully offset two weeks of heavy selling.
DIIs, by contrast, were net buyers in every single week, totalling Rs 38,715 crore. August month-to-date showed a genuine improvement in foreign tone, analysts said, adding that that the index has drifted lower nevertheless.
Nifty closed the week off the low at 24,366 levels down by 0.8 per cent. Bank Nifty also traded in a range and closed marginally lower by 0.4 per cent.
Broader markets outperformed with Nifty Midcap 100 index hitting a fresh all time high and closing the week up by 0.5 per cent, while Nifty small cap 100 also hovered around the all-time high.
—IANS
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