Foreign institutional investors (FIIs) continued their heavy selling in Indian equities, net selling shares worth Rs 12,943.58 crore on October 8, Thursday. That was more than double the Rs 6,121.37 crore they offloaded on Tuesday. Domestic institutional investors (DIIs) net bought Rs 10,703.11 crore against Rs 4,596.60 crore in previous session, according to the NSE's combined FII/FPI and DII cash-market data.
Weakening rupee against the US dollar, intensifying inflation concerns on boiling oil prices above $100 a barrel, trading US 10-year Treasury yield around 5.3 percent, and caution ahead of September quarter earnings could be reasons behind consistent FII outflow.
FIIs bought shares worth Rs 15,725.45 crore and sold shares worth Rs 28,669.03 crore during the session. DIIs bought Rs 22,987.97 crore and sold Rs 12,284.86 crore.
The FII outflow was the largest of October so far, after Rs 9,484.22 crore on October 1. DII buying offset over 80% of the FII selling on the day. The combined net flow for the session was negative at Rs 2,240.47 crore.
FIIs have sold a net Rs 36,209.61 crore this month. They have been net sellers in all five sessions of October so far. DIIs have been net buyers in all five sessions, with cumulative buying of about Rs 35,612 crore.