New Delhi, June 27 (IANS) Foreign institutional investors (FIIs), after being net buyer in the previous week, again turned net sellers this week in the Indian markets, offloading Rs 2,080 crore based on provisional exchange data.

On the other hand, domestic institutional investors (DIIs) were net buyers, purchasing Rs 11,100 crore in the Indian markets.

In the month of June, FIIs have sold a cumulative Rs 45,130 crore, while DIIs have bought Rs 76,160 crore.

“In the current truncated week, FIIs were net buyer in two out of the four-trading session of the week. DIIs remained net buyer for all four sessions during last week,” said Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking.

Benchmark Indices traded in a range and closed marginally higher to gain for the third week in a row.

Investor sentiment improved during the week as geopolitical tensions continued to ease and Brent crude oil prices cooled off below $75 per barrel, reducing concerns over inflationary pressures and supporting risk appetite, the analyst added.

“However, concerns regarding the slow progress of the monsoon remained on investors’ radar and capped the upside during the week,” said the market watcher.

Indian markets saw modest FII buying in the week ended June 25, with provisional cash-market net FII inflows of roughly Rs 380 crore on June 25, while DIIs remained notable buyers supporting the rally.

“Given steady global cues, easing crude and a resilient domestic macro backdrop, expect a cautiously positive near-term outlook — range-bound upside with sectoral leadership from financials, tech and select cyclicals — but keep an eye on global risk sentiment and earnings cues for directional conviction,” said Vinit Bolinjkar, Head of Research- Ventura.

Meanwhile, Nifty started the week on a positive note, but mid-week profit booking saw the index forming an intra-week lows of 23,785.

However, index recovered in the second half to close the week marginally higher by 0.2 per cent at 24,056 levels.

—IANS

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