Foreign institutional investors turned net sellers on Thursday, offloading Rs 438.24 crore of Indian equities, while domestic institutional investors bought a net Rs 1,025.85 crore, according to NSE data. The flows came as the benchmark indices snapped a three-day losing streak, even as elevated crude prices and geopolitical concerns continued to weigh on sentiment.
FIIs bought shares worth Rs 11,882.95 crore and sold Rs 12,321.19 crore. DIIs, meanwhile, bought Rs 13,326.33 crore and sold Rs 12,300.48 crore.
With Thursday’s flows, FIIs have remained net sellers in recent sessions. Their net buying for the month stands at around Rs 1,510 crore, while DIIs have bought a net of over Rs 23,000 crore so far in September.
Indian equities are likely to remain under pressure amid elevated crude prices and ongoing geopolitical risks, according to Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services.
“Brent crude has crossed the US$100/bbl mark and is currently around US$102–107/bbl, with rising attacks on commercial shipping increasing the risk of supply disruptions amid the intensifying war. The conflict has entered its seventh month with no signs of de-escalation. Any further escalation around the Strait of Hormuz could push crude prices higher, adding pressure on the rupee and potentially warranting a policy response,” Khemka said.