DIIs lead as Rupee fall triggers heavy foreign outflows

The heavy buying by domestic institutional investors (DIIs) overshadowed the persistent fund outflow by foreign institutional investors (FIIs) due to depreciation in Indian currency this week, analysts said on Saturday.

- AGENCIES

The first week of December has begun with sustained selling by FIIs on all days, as FIIs have sold equity for Rs 10,401 crore in the cash market.

This sell figure has been completely eclipsed by the sustained strong buying by DIIs, who bought equity for Rs 19,783 crore during this period, said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

According to the analyst, the fundamental reasons behind the FIl selling and DII buying are different.