New Delhi, May 2: Foreign institutional investors (FIIs) continued to remain net seller for the 10th consecutive month in April, as they sold Rs 70,100 crore worth Indian equities last month, according to the provisional exchange data.
On the other hand, domestic institutional investors (DIIs) continue to provide support to the market, emerging as net buyer during last month, with investments totalling Rs 51,000 crore.
Last week, FIIs sold net about Rs 13,000 crore while DIIs infused around Rs 11,500 crore during the same period.
“A weaker rupee and an elevated oil prices have led to selling by the FIIs, they have remained seller in all the four months of the current calendar year offloading Rs 2,40,750 crore, as per provisional exchange data,” said Pabitro Mukherjee, Associate Vice President–Research, Bajaj Broking.
DIIs are absorbing a significant portion of the selling pressure and limiting deeper market declines.
Meanwhile, crude oil prices surged during last week following confirmation from the White House that President Donald Trump had asked officials to prepare for a prolonged blockade of Iranian ports. (IANS)
