DIIs net bought ₹1,349.64cr as Nifty falls to 3-month low
As Indian markets hit a rough patch (Nifty dropping to a three-month low and Sensex falling over 500 points), domestic institutional investors (DIIs) have been quietly ramping up their buying.
On Tuesday, DIIs net bought ₹1,349.64 crore worth of shares, more than double the previous day's figure, marking their 21st straight day of net buying.
Foreign investors net sold ₹123.19cr
While DIIs were busy buying, foreign investors actually pulled out ₹123.19 crore after being net buyers just a day before.
Financial heavyweights like ICICI Bank and Axis Bank dragged indices down, with Reliance Industries adding to the pressure.
On the bright side, defense stocks like Hindustan Aeronautics soared after new deals, midcap pharma companies posted gains, and Raymond surged 11% ahead of its board meeting on fundraising, even as most stocks struggled overall.