The move comes a day after FIIs briefly turned net buyers, reversing their recent selling trend. On Tuesday, foreign investors had purchased Indian equities following a prolonged spell of outflows.
Domestic institutional investors (DIIs) also remained net sellers during Wednesday’s session, selling equities worth ₹418.26 crore.
The selling comes after DIIs snapped their nine-session buying streak on Tuesday, having consistently supported the market during a period of sustained foreign outflows.
FIIs bought equities worth ₹12,889.82 crore and sold shares worth ₹13,709.02 crore, while DIIs recorded purchases of ₹13,665.69 crore and sales of ₹14,083.95 crore.
However, the equity benchmark indices ended in the red on Wednesday (July 22), with the BSE Sensex falling 715 points to 76,755 and the Nifty 50 declining 191 points to 23,996, slipping below the 24,000 level.
Selling was broad-based, with nearly 40 Nifty constituents ending lower, while the Nifty Bank index dropped 709 points to 57,127. The Nifty Midcap Index also declined 687 points to 62,301.
Heavyweights remained a drag on the benchmarks, with IT stocks, Reliance Industries and HDFC Bank among the key losers. Pharma stocks also came under pressure after US President Donald Trump’s comments on tariffs for generic drugs, with Lupin and Aurobindo Pharma emerging among the biggest losers.
Among individual stocks, IndiGo was the top Nifty loser, tracking crude oil price movement and concerns around competition. Bandhan Bank plunged 17% after a mixed set of quarterly results and a cut in its return on assets (RoA) guidance. Oracle Financial Services Software declined 7% ahead of its June quarter results.
Separately the Indian rupee weakened by 33 paise to settle at 96.57 against the US dollar on Wednesday, compared with its previous close of 96.24 on Tuesday. The domestic currency ended the session lower, extending losses from the previous trading day.
Also Read: NACL Industries Q1 profit jumps 60%; board approves Nasense Labs stake sale
