Foreign Institutional Investors sold Indian equities for the fifth straight session on Friday. According to data available on exchanges, FIIs sold shares worth Rs 2,116 crore in the cash markets, against Rs 1,169 crore worth of shares sold in yesterday’s trading session. The Sensex, however, ended mildly in the green at 59,655, up 22 points. The Nifty-50 ended flat with a negative bias at 17,624.
Flows from DIIs remained positive as they bought shares worth Rs 1,632 crore, provisional data from exchanges showed. Flows from foreign institutional investors so far in April have now slipped lower, but still remain positive at Rs 316 crore. On the other hand, flows from DIIs turned positive for the month so far, after five straight sessions of buying, standing at Rs 342 crore as on Friday.
“Earnings season will pick up the pace next week with results from several large-caps, which would drive market sentiments. Several Heavyweights from IT, Banking, Auto, and FMCG sectors would announce their results. Management commentary will hold key importance to understand future growth,” said Siddhartha Khemka of Motilal Oswal Financial Services.
