Foreign institutional investors dumped ₹3,208.76 crore of shares on Thursday, pushing the Nifty up 53 points to 23,271 as the index carved a second‑day rise.
FIIs bought ₹8,761.71 crore and sold ₹11,970.47 crore, a net outflow of ₹3,208.76 crore, up from ₹2,032.61 crore the day before. Domestic institutional investors remained net buyers, adding ₹3,617.75 crore and selling ₹10,487.26 crore.
The rally was uneven: the Nifty Bank index fell 237 points to 56,056, while the Midcap index surged 558 points to 61,432. Insurance names led the gains, and Tata Group shares climbed after the re‑appointment of N Chandrasekaran as Tata Sons chairman. Auto names Maruti Suzuki and TVS Motor gained about 2% each, while upstream oil stocks slipped, with ONGC down 2%.
Semiconductor stocks such as Kaynes Technology, Hitachi Energy India and CG Power jumped over 3%, reflecting a sector‑wide appetite. The rupee finished at ₹95.93 per dollar, slightly stronger than the ₹95.96 level seen on Wednesday.
Analysts point to the upcoming earnings of Tata Motors and Maruti Suzuki, slated for the next two weeks, as a barometer for the rally. They also caution that a re‑emergence of FII selling could dent the gains if the market turns risk‑off ahead of the earnings season.