Huge local buying fails to lift indices

Sensex, Nifty Gain Ground

- KISHOR KADAM

OVER THE PAST year, domestic institutions have invested a whopping $82.2 billion in India's equity markets while foreign portfolio investors (FPIs) sold $27.2 billion worth of shares. Despite this huge infusion of liquidity, the benchmark indices remain more or less where they are.

On Wednesday, the Nifty 50 closed at 24,715.05, about 6% lower than the peak of 26,216.05, which was achieved on September 26, 2024. The Sensex ended Wednesday's session at 80,567.71, down 6.14% over the record high of 85,836.12 last September. During the same period, the broader indices, the BSE 500 and BSE Midcap, also declined by 7.03% and 7.23% respectively.