Nifty crosses 23,000 as FIIs sell ₹5,285.37cr, DIIs buy ₹3,319.39cr
On October 15, while the stock market was buzzing and Nifty crossed 23,000, foreign institutional investors (FIIs) sold off ₹5,285.37 crore worth of Indian shares.
At the same time, domestic institutional investors (DIIs) bought up ₹3,319.39 crore in stocks, basically stepping in as FIIs exited.
It was a busy day with lots of buying and selling on both sides.
Tech stocks rally, Yes Bank plunges
Tech stocks had a great run: Nifty IT jumped nearly 11% for the week and big names like Reliance Industries, ICICI Bank, and TCS helped push the market higher.
But Yes Bank took a major hit after a Supreme Court decision on its bonds sent its stock to its biggest single-day fall since July 2020.
Meanwhile, IDBI Bank declined 8%, while CSB Bank fell more than 3% after the government cleared Fairfax's deal for IDBI Bank, but Polycab India dropped nearly 2% following weak operating indicators in its Q2 results, showing just how mixed investor reactions can be.