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FIIs and DIIs were net buyers with an inflow of over ₹1,383 crore and ₹392 crore, respectively, in Indian equities on June 7th. Sensex and Nifty 50 rallied by nearly a percent with midcap and small-cap stocks shining.
FIIs ended May month on a strong note, resulting in the biggest monthly buying of the year so far. However, DIIs closed the month as net sellers. Both Sensex and Nifty 50 settled with over 2% upside in overall May 2023.
Riding on the back of robust bullish sentiment, Sensex and Nifty 50 neared their lifetime high levels on Monday. Consumer durables stocks witnessed the most buying, while substantial gains were also seen in auto and banking stocks. Oil and gas stocks, however, emerged as top underperformers.
Sensex and Nifty 50 stumbled by more than 1% on Monday after investors carried panic selling in IT stocks as concerns escalated following a disappointing fourth quarter by tech giants like TCS and Infosys. Markets were on a winning spree from March 29th to April 13 before correcting.
As per NSDL data, FPIs invested ₹8,767 crore in Indian equities so far in April month. On the other hand, they are net sellers in the debt market with an outflow of ₹1,025 crore, while removing ₹200 crore and ₹193 crore from debt-VRR and hybrid instruments.