Nifty closed at 23,073, up 0.3%, as domestic institutional investors bought ₹3,319 crore of equities while foreign investors dumped ₹5,285 crore. The net outflows from FIIs marked the highest since last month, pushing the index up despite a mixed sector performance.
FIIs purchased shares worth ₹12,735 crore and sold ₹18,020 crore during the session, a net sell of ₹5,285 crore. Domestic institutions, on the other hand, bought ₹19,438 crore and sold ₹16,119 crore, netting ₹3,319 crore, up from ₹2,670 crore the day before.
Reliance Industries led the rally with a 2% gain, while Nestle India slid 9% after a cautious Q2 outlook. Yes Bank fell 10% following the Supreme Court’s decision to scrap the write‑off of additional tier‑1 bonds, and IDBI Bank slid 8% amid a fresh government approval of a Fairfax deal.
The Nifty IT index surged 11% week‑to‑date, buoyed by anti‑AI sentiment, and the BSE index edged higher than 3% amid speculation that the Securities and Exchange Board of India is reviewing the Common Account Number scheme.
Looking ahead, the market is awaiting the RBI’s policy meeting and next week’s earnings from key banks and IT firms, while the Jio Platforms IPO slated for October 21 adds further upside potential for the telecom sector.