FII DII data: FPI sold shares worth Rs 2559.96 crore, DII bought shares worth Rs 639.82 crore on Feb 7 Foreign institutional investors (FII) sold shares worth a net Rs 2559.96 crore while domestic institutional investors (DII) bought shares worth a net Rs 639.82 crore on Tuesday, February 7, 2023, according to the data available on NSE. For the month till February 7, FIIs sold shares worth a net Rs 5,990.68 crore while DIIs bought shares worth a net Rs 6,008.48 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 MPC is likely to raise policy rates by 25 bp today. This is known to the market and is unlikely to have any meaningful impact on the market. The important trends impacting markets globally are the developments in the US economy and rate action by the Fed. The unabated FII selling – Rs 7774 crores in the last 3 sessions- is the biggest drag on the market now. In this context, traders will also use rallies to sell. What investors should do now is to buy high-quality stocks in growth segments like banking, IT, capital goods, telecom and cement and bottom-up investing across sectors. Patient investing now will fetch impressive returns in the medium to long term,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The move had also prompted the country’s largest organised retailer Reliance Retail to step into the value retail segment with Yousta, which was announced on Thursday. Like Intune, Yousta began its operations in Hyderabad, with plans to expand across the country. Intune has three stores – two in Hyderabad and one in Dombivli, near Mumbai, with plans to add another three more outlets in the coming months.
Nair had admitted on a recent earnings call that the apparel segment in general was witnessing moderation and that the value retail foray by Shoppers Stop could help the company tap into the growing trend for affordable fashion and lifestyle products, aiding sales growth.
That was an important statement for Shoppers Stop, which reported a nearly 37% year-on-year drop in net profit to Rs 14.5 crore in the June quarter of FY24, even as revenue grew only 4.8% versus the previous year to nearly Rs 994 crore.
On a yearly basis, the company had last reported a net profit of nearly Rs 114 crore in FY23 after three consecutive years of loss between FY20 and FY22 due to the Covid-19 pandemic. FY23 topline also jumped nearly 60% year-on-year to Rs 4,022 crore, the highest in six years, its results showed.