Foreign institutional investors (FII) offloaded shares worth a net Rs 1,023.91 crore, while domestic institutional investors (DII) purchased shares worth a net Rs 1,634.37 crore on Friday, July 28, according to the provisional data available on the NSE. For the month till July 28, FIIs bought shares worth a net Rs 14,623.18 crore while DIIs sold shares worth a net Rs 3,672.40 crore. In the month of June, FIIs bought shares worth a net of Rs 27, 250.01 crore while DIIs purchased equities worth a net of Rs 4, 458.23 crore.
“In the Friday session, there was some selling by FIIs, which caused the market to decline. The 19500 level, which is also close to the 20 Day EMA levels, provides significant support for the Nifty. Investors and traders are recommended to buy on dips with a strict closing basis stop loss of 19,500,” said Deven Mehta, Choice Broking. He added, “The charts indicate that the Nifty may get support at 19,580, followed by 19,550 and 19,500. If the index advances, 19,675 would be the initial key resistance level to watch out for, followed by 19,720 and 19,750.”
Markets today
The domestic equity indices NSE Nifty 50 and BSE Sensex, started trading flat. Nifty opened at 19,666.35, while Sensex traded at 66,051.00, experiencing a modest decline of 100 points, and nearly slipping below the 66,000 mark. In the broader markets, Nifty Junior added 0.17%. Nifty Midcap 100 gained 0.18% while Nifty Smallcap jumped almost 0.5% in trade. Sectorally, Nifty FMCG tanked 0.54% while Nifty Media and Nifty Metal gained the most. Banking stocks index, Bank Nifty, lost 0.15% to 45,400.