FII exodus keeps Sensex, Nifty stuck in the mud
Indian stock markets began trading with minimal movement on Tuesday as investors weighed uncertain international signals and awaited stronger catalysts from home. The Sensex slipped 18 points to 83,718 by mid-morning, while the Nifty shed 14 points to reach 25,748. Broader market gauges followed similar patterns, with midcap and smallcap benchmarks losing less than 0.15 percent each.
Foreign institutional investors offloaded shares valued at 1,883 crore rupees on Monday, marking their seventh consecutive session of net sales. Domestic institutional buyers countered this pressure by purchasing 3,516 crore rupees worth of equities. Market observers anticipate overseas funds will maintain their strategy of selling during price increases and redirecting capital to alternative destinations. Titan Company, Cipla and Trent posted gains among major Nifty constituents, whereas Tata Consumer, Maruti Suzuki and Apollo Hospitals declined.
Sectoral performance remained mixed as automobile stocks dropped 0.48 percent while media, energy and real estate advanced. Analysts identified resistance at 25,850 and support near 25,600, noting that medium-term fundamentals appear solid despite near-term headwinds from foreign selling patterns and debates among U.S. Federal Reserve policymakers ahead of their December gathering.
