FIIs net sell ₹11,756 crore, reversing earlier buys this week in a single day

On November 28, Foreign Institutional Investors (FIIs) turned net sellers, offloading ₹11,756 crore worth of shares, reversing buying momentum earlier in the week. This shift followed FIIs’ combined purchases of over ₹11,100 crore in equities on Monday and Tuesday, which ended a 38-session streak of net selling.

Meanwhile, Domestic Institutional Investors (DIIs) continued to demonstrate confidence in the market, net buying ₹8,718 crore on November 28.

DIIs have remained consistent in their buying activity, with a total purchase of ₹5.64 lakh crore worth of shares so far this year, contrasting with FIIs’ net selling of ₹2.95 lakh crore.

The buying activity earlier in the week was driven by the MSCI index rebalancing, which spurred foreign buying in Indian stocks. Among the major buys was HDFC Bank, with FIIs purchasing 21.4 crore shares, valued at approximately ₹38,164 crore on Monday. The rebalancing led to significant portfolio adjustments, with FIIs favouring Indian equities in response to changes in MSCI’s classifications.

Also read: FIIs net buy ₹9,947.55 cr ending 38-day sell streak; DIIs sell ₹6,908 cr

However, despite the recent positive momentum, today’s net selling underscores broader concerns, particularly geopolitical uncertainty and global market volatility.

The Sensex ended 1.48% lower at 79,043.74, while the Nifty dropped 1.49%, closing at 23,914.15. FIIs’ sell-off could indicate growing caution among investors ahead of the month-end, especially amid escalating tensions between Russia and Ukraine and limited global cues due to stock market holidays abroad.