Indian markets slip Monday after FIIs sell nearly 8,000 cr
Business
Indian stock markets took a hit on Monday after Foreign Institutional Investors (FIIs) sold nearly ₹8,000 crore in shares, a sharp jump from last Friday.
While FIIs were offloading stocks, Domestic Institutional Investors (DIIs) tried to balance things out by buying over ₹4,500 crore worth of shares, but it wasn't enough to stop the overall decline.
Adani Enterprises tumbles 10% post MSCI
The heavy FII selling pushed Sensex down 307 points to 76,957, and Nifty slipped 95 points to 24,080.
Adani Group stocks got hammered after an MSCI rejig: Adani Enterprises ended 10% lower.
Still, there was a bright spot: the Nifty Bank index actually surged by 529 points thanks to some end-of-day adjustments.
All this has left investors wondering what's next for the market.