Foreign institutional investors (FII) sold shares worth a net Rs 2950.89 crore while domestic institutional investors (DII) purchased shares worth a net Rs 2266.2 crore on Friday, December 30, 2022, according to the data available on NSE. In the month of December, FIIs sold shares worth a net of Rs 14,231.09 crore while DIIs purchased equities worth a net of Rs 24,159.13 crore.
Foreign institutional investors (FII) or Foreign portfolio investors (FPI) are those who invest in the financial assets of a country while not being part of it. On the other hand, domestic institutional investors (DII), as the name suggests, invest in the country they’re living in. Political and economic trends impact the investment decisions of both FIIs and DIIs. Additionally, both types of investors — foreign institutional investors (FIIs) and domestic institutional investors (DIIs) — can impact the economy’s net investment flows.
“The benchmark Nifty recovered smartly during the week, pairing more than 50% of the previous week’s loss. The index has formed a bullish harami pattern on the weekly chart, suggesting a bullish reversal. Besides, the index has closed above its 50-week exponential moving average. The momentum indicator RSI (14) on the weekly chart is in a bearish crossover. The 50 EMA and 200 DMA are in the bullish crossover. The trend for the short term is likely to remain bullish as long as it remains above 17,800 on a closing basis. On the higher end, resistance is visible at 18,350. A decisive move above 18,350 may induce a further rally towards 18,600/19,000. On the other hand, a decisive fall below 17,800 may weaken the trend,” said Rupak De, Senior Technical Analyst at LKP Securities.