FII DII data: FPI bought shares worth Rs 1458.02 crore, DII sold shares worth Rs 291.34 crore on Feb 10 Foreign institutional investors (FII) bought shares worth a net Rs 1458.02 crore while domestic institutional investors (DII) sold shares worth a net Rs 291.34 crore on Friday, February 10, 2023, according to the data available on NSE. For the month till February 10, FIIs sold shares worth a net Rs 5,414.21 crore while DIIs bought shares worth a net Rs 6,453.05 crore. In the month of January, FIIs sold shares worth a net of Rs 41,464.73 crore while DIIs purchased equities worth a net of Rs 33,411.85 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 Nifty witnessed a rangebound session on Friday and it closed marginally in the negative. On the daily charts, we can observe that the Nifty has been consolidating since the past couple of trading sessions within the range of 17740 – 17920. On the upside, the key daily moving averages placed in the range 17870 – 17960 are acting as a stiff resistance and restricting upside. On the downside, the zone of 17800 – 17744 is providing a cushion and has been absorbing the selling pressure. The breach of this range shall lead to trending moves in that particular direction. Overall, we expect this range to break on the upside and test the upper end (18100) of the downward-sloping channel from a short-term perspective,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
If the current trend continues for a longer period of time, not only oil mills but oilseeds growers will also not be able to get good rates of their produce, says Samir Shah, president of Gujarat State Edible Oils and Oil Seeds Association (GEOA). Shah who is also past president of SOMA says that due to various international factors rates of edible oils had gone up considerably, especially imported oils earlier this year.
“With a view to curb rising prices of edible oil, the Government of India reduced import duty on edible oils. Considering the fact that India is producing hardly 30 percent of its edible oil requirement, the decision was right at that point of time. Now when international prices of edible oils have gone down by 15 percent to 25 percent and high production period has started in edible oil exporting countries, the government should gradually increase import duty to protect local oil mills and oilseeds growers,” said Shah. GEOA has also made representation before Union Minister for Commerce & Consumer Affairs, Piyush Goyal to increase import duty.
In June import duty on edible oils was ranging from 35 to 55 percent, since then the government gradually reduced import duty and at present it is ranging from zero percent to 15 percent on different edible oils, he said.
Just a month back prices of edible oils were through the roof and the government took appropriate measures by reducing import duty in order to protect consumers, says Atul Chaturvedi, president of Solvent Extractors Association of India (SEA). “Prices of edible oils are coming down globally. Kharif sowing has already started across the country. In the interest of local farmers, it is high time to enhance import duty in a phased manner to encourage local edible oil value chain,” opined Chaturvedi.
On Thursday imported Palm oil prices were at around Rs 2100 per 15 kg as against local Rs 2700 and Rs 2550 of groundnut and cottonseed oils. Prices of other local oils including ricebran, coconut, soyabean and mustard remained as high as Rs 2350, Rs 2520, Rs 2500 and Rs 2580 respectively.
India imports around 13-13.5 million tonnes of edible oils, of which around 8-8.5 million tonnes (around 63 per cent) are palm oil. Though the price of other imported Sunflower oil remained at around Rs 2700 per 15 kg, but import quantity of the oil is much lower than that of palm oil.