Indian stock markets on Thursday snapped their seven-day winning streak on profit booking.

Foreign institutional investors (FIIs) sold stocks of Indian companies worth 15,498.91 crore and bought stocks for 13,934.88 crore, resulting in an outflow of 1,564.03 crore, according to NSE data.

Domestic institutional investors (DIIs) bought equities worth 9,313.11 crore and offloaded shares worth 9,322.77 crore, resulting in an outflow of 9.66 crore, the exchange data showed.

On Wednesday, foreign institutional investors sold shares worth 79.88  crore, while DIIs bought shares worth 1,372.18 crore.

The BSE 30-share Sensex fell 132.04 points, or 0.19%, to close at 69,521.69. The index hit the lowest intra-day level of 69,320.53.

The NSE index Nifty declined 36.55 points, or 0.17%, to end at 20,901.15.

Investors are awaiting the outcome of the Reserve Bank of India (RBI) monetary policy committee meeting, due on Friday.

The RBI is widely expected to maintain the status quo on the interest rate. 

Vinod Nair, head of research at Geojit Financial Services, said: “The market took a breather, the investors are in a wait-and-watch mode ahead of the monetary policy announcement. A better-than-estimated Q2 GDP growth, ease in global oil prices and drop in global bond yield will be the silver lining for the MPC. However, the expectation of a rise in domestic November inflation, drop in Rabi cultivation and increase in foodgrain prices will influence the RBI to adopt a cautious approach in the short-term.”

In the broader market, the BSE largecap index moved up marginally by 0.02%, the midcap gauge gained 0.66% and smallcap advanced by 0.28%.

Among sectoral indices, FMCG, metal and technology declined by 0.85%, 0.75% and 0.38% respectively.

Utilities and power defied the trend and surged by 3.16% and 2.67%, respectively. Services gained 1.63%, consumer durables rose 1.22% and oil & gas jumped 1.00%.

 

 

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Published: 07 Dec 2023, 07:56 PM IST

By admin

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