Foreign institutional investors sold Indian shares worth ₹5,285 crore on Thursday, October 15. Meanwhile, domestic institutional investors bought shares worth ₹3,319 crore. These fund flows happened as the market rallied, with the Nifty reclaiming the 23,000 mark. Heavyweight stocks like Reliance Industries and ICICI Bank helped the market end higher today.

Foreign institutional investors (FIIs) sold Indian equities worth a net ₹5,285.37 crore on Thursday, October 15, while domestic institutional investors (DIIs) were net buyers worth ₹3,319.39 crore, according to provisional exchange data.

FIIs bought shares worth ₹12,735.59 crore and sold equities worth ₹18,020.96 crore during the session. DIIs, meanwhile, purchased shares worth ₹19,438.65 crore and sold equities worth ₹16,119.26 crore.

Foreign investors’ net selling increased from ₹1,857.44 crore on Wednesday, October 14. Domestic institutions continued to support the market, with net purchases rising from ₹2,670.44 crore in the previous session.

The fund flows came as Indian equities ended higher on Thursday following a strong rally. The Nifty reclaimed the 23,000 mark during intraday trade, although broader market indices underperformed.

Heavyweight stocks, including Reliance Industries, ICICI Bank and Tata Consultancy Services (TCS), contributed the most to the Nifty’s gains.

The Nifty IT index rose for a third consecutive session and surged nearly 11% on a week-to-date basis, as the anti-AI trade gathered momentum.

Among individual stocks, Reliance Industries gained more than 2%. Nestle India fell over 9% after its Q2 results included cautious commentary on inflation. Yes Bank recorded its biggest single-day fall since July 2020 after the Supreme Court scrapped the write-off of additional tier-1 (AT1) bonds.

IDBI Bank declined 8%, while CSB Bank fell more than 3% after the government cleared Fairfax’s deal for IDBI Bank. Polycab India dropped nearly 2% following weak operating indicators in its Q2 results, while BHEL fell 6% as order inflows declined to a multi-quarter low.

Capital market stocks advanced, with BSE gaining more than 3% amid reports that the Securities and Exchange Board of India (SEBI) was reviewing the Common Account Number (CAS).

Reliance Industries also remained in focus amid reports that Jio Platforms, described in the market update as India’s biggest IPO, would open for subscription on October 21.