Foreign investors sold more Indian shares than they bought on Monday, October 19, even as domestic institutional investors stepped in to buy stocks.
Foreign institutional investors (FIIs) were net sellers of shares worth ₹1,148.64 crore, according to provisional data. They bought shares worth ₹11,240.64 crore and sold shares worth ₹12,389.28 crore during the day.
Domestic institutional investors (DIIs), on the other hand, were net buyers of ₹3,201.19 crore. They purchased shares worth ₹14,781.31 crore and sold ₹11,580.12 crore.
The trend reversed from Friday, October 16, when FIIs were net buyers of ₹1,165.92 crore and DIIs were net sellers of ₹3,661.28 crore.
Sensex falls 876 points, Nifty slips below 22,900
Indian stock markets fell sharply on Monday as losses in private sector banks dragged down the benchmark indices. The market failed to hold on to its recent recovery, with investors reacting negatively to some quarterly earnings results.
The Sensex dropped 876 points to close at 73,853, while the Nifty fell 257 points to 22,889, slipping below the 22,900 mark.
The Nifty Bank index declined 356 points to 55,488. The midcap index also fell 642 points to 58,488.
PSU banks rally as private banks fall
Public sector banks performed better than their private sector peers. The Nifty PSU Bank index rose 2%, while the Nifty Private Bank index fell 1%.
Federal Bank recovered sharply from its intraday low and closed 8% higher than that level after comments related to acquisitions. Union Bank shares jumped 6%, while Punjab National Bank (PNB) gained 5% after both lenders reported strong results for the July-September quarter of FY27.
Yes Bank continued to decline, falling another 4% on Monday. The stock has lost 20% so far this month.
UltraTech Cement shares fell 3% after the company reported results that were largely in line with expectations.
Hospital stocks fall, Urban Company drops 10%
Hospital stocks mostly declined after a government order. Max Healthcare shares fell 2%.
Bajaj Finance dropped 3%, while Eternal fell more than 1% ahead of their quarterly earnings announcements.
Urban Company shares plunged 10% amid concerns about competition in its InstaHelp business.
PC Jeweller was among the gainers, with its shares rising 11% on Monday. The stock has climbed 37% so far this month.
Overall, falling stocks outnumbered rising stocks by about four to one, showing that the sell-off was widespread across the market.
Also Read: FIIs return to buying Indian stocks with ₹1,166 crore net inflows; DIIs sell ₹3,661 crore