Foreign institutional inventors (FII) sold shares worth a net Rs 1,131.67 crore while domestic institutional investors (DII) bought shares worth Rs 772.29 crore on Thursday, December 8, 2022, according to the data available on NSE. For the month till December 8, FII sold shares worth a net Rs 5,499.13 crore while DII bought shares worth a net Rs 6,587.77 crore. In the month of November, FIIs purchased shares worth a net of Rs 22,546.34 crore while DIIs offloaded equities worth a net of Rs 6,301.32 crore.
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“Nifty broke a two-day losing streak on Dec 8th, aided by optimism about China’s major shift in its tough zero-COVID policy and on “as expected” outcome of state assembly elections. At the close, Nifty was up 0.26% or 49 points at 18609. Bank Nifty gained 1.16% to close at all-time high levels. Among sectors, PSU Banks, Private banks and Media indices rose the most while Pharma and reality fell the most. Broad market indices outperformed the Nifty with the advance-decline ratio on BSE ended at 1.15:1. Nifty managed to hold its level above 20 simple DMA on Thursday, placed at 18,500 odd levels. Any level above 18,700 would confirm the breakout from the bullish “Flag” pattern. 10 DMA and 20 DMA for Nifty are in the rising mode, which indicates the positional uptrend. Bank Nifty has surpassed the crucial resistance of 43400 to close at new all-time high levels and continue to outperform the Nifty,” said Mr Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities.
