FPIs Snap Eight-Day Buying Streak To Turn Net Sellers

Overseas investors turned net sellers of Indian equities after snapping an eight-day buying streak on Thursday.

Foreign portfolio investors offloaded equities worth Rs 71.1 crore, according to data from the National Stock Exchange.

Domestic institutional investors turned buyers, snapping two days of selling, and mopped up stocks worth Rs 488.9 crore, the NSE data showed.

Institutions have net bought Rs 43,838 crore worth of equities in May so far —the highest buying since August 2022. They have been net buyers of Rs 33,096 crore worth of Indian equities till date in 2023.

The S&P BSE Sensex closed 194 points down, or 0.31%, at 62,428.54, while the NSE Nifty 50 ended lower by 47 points, or 0.25%, at 18,487.75.