Foreign Institutional Investors sold Indian equities for the seventh consecutive session on Tuesday. According to data available on exchanges, FIIs sold shares worth Rs 407 crore in the cash markets, against Rs 412 crore worth of shares sold in Monday’s trading session. The Sensex ended higher by 74 points at 60,130, while the Nifty ended at 17,769, up 25 points on Monday.
Flows from DIIs remained positive as they bought shares worth Rs 563 crore, provisional data from exchanges showed. Flows from foreign institutional investors so far in April currently stand at Rs 502 crore after today’s selling. On the other hand, flows from DIIs remain positive for the month so far at Rs 2,083 crore as of today’s close.
“We expect the market to remain range bound with positive bias driven by results from index heavyweights. So far results from banking sector has been inline to better than expectation leading to outperformance by Nifty Bank Index. This week heavyweights from other sectors like FMCG and Auto would also announce their results,” said Siddhartha Khemka of Motilal Oswal Financial Services.