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Sensex, Nifty Fall for Second Day as Foreign Outflows Pressure Indian Equities

Persistent FII selling alongside a softer services PMI kept risk appetite weak.

Overview

  • The Sensex closed at 83,311.01, down 148.14 points or 0.18%, and the Nifty settled at 25,509.70, down 87.95 points or 0.34%, after a volatile session.
  • Exchange data showed FIIs sold Rs 1,067.01 crore on Tuesday, while DIIs were net buyers to the tune of Rs 1,202.90 crore.
  • Broader indices lagged, with the BSE smallcap index down 1.53% and the midcap index lower by 1.19%, as utilities, metals and power led sector declines.
  • Power Grid, ICICI Bank, Bajaj Finance, Bharat Electronics and NTPC weighed on the Sensex, while Asian Paints, Reliance, Mahindra & Mahindra and UltraTech Cement advanced; the rupee appreciated 7 paise to 88.63 per US dollar.
  • Corporate flow events stayed in focus, with Studds Accessories slated to list after a heavily subscribed IPO and a Singtel unit planning a Rs 10,300 crore Bharti Airtel block sale at a set floor price.