FIIs bought equities worth ₹16,584.64 crore during the session, while their sell value stood at ₹17,587.14 crore, resulting in net selling of ₹1,002.50 crore.
The move marks a reversal from Tuesday, when FIIs remained net buyers for a third straight session in Indian equities.
DIIs step up buying
Domestic institutional investors (DIIs), meanwhile, remained on the buying side on Wednesday, recording net purchases of ₹5,841.66 crore in equities.
DIIs bought shares worth ₹21,518.55 crore during the session, while their sell value stood at ₹15,676.89 crore.
Together, FIIs and DIIs recorded a combined net institutional inflow of ₹4,839.16 crore into equities on Wednesday, based on the provisional figures.
However, Indian benchmark indices ended lower on Wednesday but recovered sharply from the day’s lows, with financial stocks leading the late-session rebound. The Nifty managed to hold above the 24,400 mark, while the Nifty Bank closed at the day’s high.
The Sensex slipped 188 points to 77,967, while the Nifty declined 36 points to 24,436. The Nifty Bank gained 440 points to 57,886, while the Midcap index fell 180 points to 64,024, though it continued to outperform the headline benchmarks on a relative basis.
Market breadth remained tilted towards declines, with the advance-decline ratio at 3:4.
Among key sectoral and stock-specific moves, Tata group stocks came under pressure after N Chandrasekaran indicated that he would not seek reappointment after the end of his term. TCS, Tata Steel, Tata Motors PV and Tata Consumer Products were among the top Nifty losers.
Hospital stocks also declined after reports related to a possible cap on charges. Max Healthcare and Fortis Healthcare fell 3-5%.
Metals stocks were among the notable gainers. Hindalco Industries and National Aluminium Company (Nalco) rose 3-8% after Norsk Hydro announced a cut in alumina output.
PSU banks continued to attract buying interest, with Punjab National Bank and Union Bank of India rising as much as 4%.
Telecom stocks also moved higher following reports of a possible selective tariff hike by Bharti Airtel. Vodafone Idea gained around 3%.
The Indian rupee strengthened 11 paise against the US dollar on Wednesday, closing at ₹95.33 per dollar compared with Tuesday’s close of ₹95.44.
