Foreign Institutional Investors (FIIs) continued their trend of selling Indian equities, with a significant net outflow on June 6.

What Happened: On Thursday, FIIs net sold equities worth ₹6,867 crore. In contrast, Domestic Institutional Investors (DIIs) demonstrated confidence in the market, net buying equities worth ₹3,718 crore. Provisional data from the exchanges indicated that FIIs bought shares worth ₹13,970 crore but sold ₹20,837 crore. On the other hand, DIIs purchased shares amounting to ₹17,030 crore while offloading equities worth ₹13,312 crore during the session.

In the last 30 days, FIIs have sold total equities worth around ₹1.45 lakh crore. Since the start of the year, FIIs have net sold shares worth ₹1.43 lakh crore. However, this selling pressure has been offset by DIIs, who have net-bought shares worth ₹2.18 lakh crore over the same period.

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Markets On Thursday: Despite the continued heavy selling by FIIs, the Indian stock market continued its recovery on Thursday. Following a market crash on June 4, both benchmark indices recorded gains for the second consecutive day on June 6.

The Sensex climbed by 0.93%, or 692.27 points, closing at 75,075 while the Nifty 50 rose by 0.89%, or 201 points, to close at 22,821. The Bank Nifty index experienced an uptick, closing higher by 237.30 points or 0.48%, to settle at 49,291.90. Among the sectoral indices, Media and Realty stocks outperformed, while Pharma and FMCG stocks saw declines.

HCL Technologies, SBI Life Insurance, Tech Mahindra, Sriram Finance, and State Bank of India lead the gainers while Hindalco Industries, Hero MotoCorp, Hindustan Unilever, Asian Paints, and Nestle India were the top laggards on the Nifty 50 index.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.