Foreign Institutional Investors (FIIs) recorded massive selling activity in October 2024, with the total outflow reaching ₹67,308 crores, surpassing the previous record of ₹65,816 crores set in March 2020. This marks the highest monthly selling on record, signaling heightened volatility in the market.
On October 16, 2024, FIIs net sold ₹3,435 crores, while Domestic Institutional Investors (DIIs) made net purchases of ₹2,256 crores.
FIIs selling activity in October 2024:
- 1st Oct: -₹5,579 crores
- 3rd Oct: -₹15,243 crores
- 4th Oct: -₹9,897 crores
- 7th Oct: -₹8,293 crores
- 8th Oct: -₹5,730 crores
- 9th Oct: -₹4,562 crores
- 10th Oct: -₹4,927 crores
- 11th Oct: -₹4,162 crores
- 14th Oct: -₹3,732 crores
- 15th Oct: -₹1,748 crores
- 16th Oct: -₹3,435 crores
At market close on October 16, 2024, the Sensex was down 318.76 points or 0.39%, closing at 81,501.36, while the Nifty fell 86 points or 0.34%, closing at 24,971.30.
On the Nifty, top losers included Trent, M&M, Hero MotoCorp, Infosys, and Adani Ports, while gainers were HDFC Life, Dr. Reddy’s Labs, Grasim Industries, Bharti Airtel, and HDFC Bank.
Among sectors, the oil & gas, realty, and telecom indices ended in the green, offering some support amidst the broader market decline.
The intense FII selling pressure throughout October has led to significant market corrections, with concerns about global economic conditions contributing to increased volatility. DIIs, however, continue to offer some stability with their consistent buying activity.
