On Friday, foreign institutional investors sold Indian equities for the fifth consecutive session. According to data available on exchanges, FIIs sold Rs 2,116 crore worth of shares on the cash markets, compared to Rs 1,169 crore worth of shares sold yesterday. However, the Sensex ended the day at 59,655, 22 points higher. At 17,624, the Nifty-50 ended neutral with a negative bias.
The flows from domestic institutional investors remained positive as they purchased shares worth Rs 1,632 crore, according to provisional data from exchanges. At Rs 316 crore, inflows from foreign institutional investors in April have decreased but are still positive. On the other hand, after five consecutive sessions of buying, flows from DIIs turned positive for the month to date, totaling Rs 342 crore as of Friday.
“Earnings season will pick up the pace next week with results from several large-caps, which would drive market sentiments. Several Heavyweights from IT, Banking, Auto, and FMCG sectors would announce their results. Management commentary will hold key importance to understand future growth,” said Siddhartha Khemka of Motilal Oswal Financial Services.