FIIs Bought Shares Worth ₹427 Cr As Nifty Hit Fresh Highs On Wednesday

Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) were both net buyers on Wednesday as the markets scaled new highs.

What Happened: On June 12, FIIs and Foreign Portfolio Investors (FPIs) bought equities worth ₹427 crore, while DIIs purchased equities worth ₹234 crore.

According to provisional data from the exchanges, FIIs bought equities amounting to ₹15,273 crore and sold equities worth ₹14,847 crore. Meanwhile, DIIs acquired ₹13,420 crore in shares and sold equities worth ₹10,969 crore.

Markets On Wednesday: The Sensex opened at 76,679.11 points, slightly higher than its previous close of 76,456.59. It surged as much as 594 points to reach an intraday high of 77,050.53, narrowly missing its all-time high of 77,079.04 set on June 10 by just 29 points. The index eventually closed 150 points higher, or up by 0.20%, at 76,606.57.

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The Nifty 50 started the day at 23,344.45, above its previous close of 23,264.85. It reached a fresh all-time high of 23,441.95 during the session. The index ended the day 58 points higher, or up by 0.25%, at 23,322.95.

Talking about the market performance today, Prashanth Tapse, senior VP of research at Mehta Equities said, “Markets failed to capitalise on its firm start but eked out modest gains on select buying support, as cautioned prevailed amongst investors ahead of US policy rate meeting later in the day.”

Rajesh Bhosale, equity technical analyst at Angel One said, “The range between 23400 and 23500 has emerged as a formidable resistance zone, consistently stalling morning upswings. Breaking through this zone remains crucial for triggering a fresh positive momentum, particularly for the weekly expiry, while 23200 serves as a pivotal support level. Traders are advised to monitor this key range of 23200 – 23500 closely, as a breakout could spark a significant movement on expiry day, warranting strategic trade placement.”

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

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