Foreign institutional investors (FIIs) switched from net buyers to net sellers this week in the Indian markets, selling Rs 2,080 crore. Conversely, domestic institutional investors (DIIs) were net buyers, acquiring Rs 11,100 crore. In June, FIIs sold Rs 45,130 crore while DIIs bought Rs 76,160 crore.
Benchmark Indices closed slightly higher for the third consecutive week, trading within a range. Investor sentiment improved due to easing geopolitical tensions and Brent crude oil prices dropping below $75 per barrel, alleviating inflation concerns and boosting risk appetite, according to analysts.
During the week, FIIs were net buyers in two out of four trading sessions, while DIIs were net buyers in all four sessions. The slow progress of the monsoon remained a concern for investors, limiting market upside. Indian markets witnessed modest FII buying with net FII inflows of around Rs 380 crore on June 25, supported by notable DII buying.
Vinit Bolinjkar, Head of Research at Ventura, anticipates a cautiously positive near-term outlook with sectoral leadership from financials, tech, and select cyclicals. The Nifty index started positively but saw mid-week profit booking, hitting intra-week lows before recovering to close the week marginally higher at 24,056 levels.
