Foreign Institutional Investors sold Indian equities for the sixth consecutive session on Monday. However, resilient flows from domestic investors boosted the sentiment and led the markets to end at day’s high. According to data available on exchanges, FIIs sold shares worth Rs 412 crore in the cash markets, against Rs 2,116 crore worth of shares sold in Friday’s trading session. The Sensex ended higher by 401 points at 60,056, while the Nifty ended at 17,743, up 119 points.
Flows from DIIs remained positive as they bought shares worth Rs 1,177 crore, provisional data from exchanges showed. Flows from foreign institutional investors so far in April have now turned negative after today’s selling. On the other hand, flows from DIIs turned positive for the month so far, after five straight sessions of buying, standing at Rs 1,152 crore as of today’s close.
“The market is trading in a wider range and has consistently shown strength at lower levels. We expect the market to remain range bound with positive bias driven by results from index heavyweights. This week companies having ~18% of Nifty weightage are scheduled to announce their results,” said Siddhartha Khemka of Motilal Oswal Financial Services.
