On November 28, 2024, Foreign Institutional Investors (FIIs) broke their three-day buying streak by net selling ₹11,756.25 crore in the cash market, as per provisional data. This massive outflow significantly weighed on Indian equity indices, which ended the day in deep red.
Market Overview:
- Nifty 50: Closed at 23,914.20, down 360.70 points (1.49%).
- Sensex: Ended at 79,043.74, a decline of 1,190.34 points (1.48%).
Provisional Cash Flow Data (₹ in crore):
- FII/FPI Activity:
- Gross Buy: ₹10,796.17 crore
- Gross Sell: ₹22,552.42 crore
- Net Sell: ₹11,756.25 crore
- DII Activity:
- Gross Buy: ₹17,685.35 crore
- Gross Sell: ₹8,967.05 crore
- Net Buy: ₹8,718.30 crore
Turnover Summary (₹ in crore):
- Cash Market:
- NSE: ₹1,16,893.73 crore
- BSE: ₹7,210.10 crore
- Total Cash Volume: ₹1,24,103.83 crore
- F&O Market:
- NSE: ₹4,92,843.86 crore
- BSE: ₹29,11,647.27 crore
- Total F&O Volume: ₹34,04,491.13 crore
Market Highlights:
- FII Sell-Off: After three consecutive sessions of net buying, FIIs offloaded substantial holdings today, contributing to the sharp market decline.
- DII Counteraction: Domestic Institutional Investors (DIIs) attempted to stabilize the market with net purchases of ₹8,718.30 crore but were unable to offset the heavy FII selling.
- Indices Performance: Both the Sensex and Nifty erased their previous session gains, with the Nifty slipping below the psychological 24,000 mark.
Sectoral Impact:
IT, auto, and banking stocks faced significant selling pressure, leading the declines across the broader market.
The heavy selling by FIIs reflects cautious sentiment amid geopolitical tensions and market volatility, especially on a day of high activity due to F&O expiry.
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