The Nifty slipped 173 points to 22,603 on Wednesday, a reversal of its two‑day rally, as FIIs net‑sold ₹6,121 crore in equities – up from ₹2,961 crore the previous day.
FIIs bought ₹12,578 crore and sold ₹18,699 crore, resulting in a net outflow of ₹6,121 crore. Domestic institutional investors, by contrast, net‑bought ₹4,597 crore, buying ₹18,707 crore and selling ₹14,110 crore, according to NSE data.
The sell‑off followed the RBI’s 25‑basis‑point rate hike on Wednesday, which sent the rupee to a five‑month low of 96.78 per dollar. Rate‑sensitive segments – realty, auto, NBFCs – fell up to 2 % amid the tightening outlook.
The Nifty Bank index slipped 73 points to 55,056 but outperformed the broader market, while the Midcap index fell 379 points to 59,383. Metal stocks lagged as the dollar index rose, with Hindalco and JSW among the top losers.
With the RBI expected to signal its next policy move in November, traders are eyeing the upcoming earnings season for key corporates. The market breadth, with 41 Nifty stocks in the red, suggests a cautious stance ahead of the next policy announcement.