Indian shares ended Tuesday in the red, on muted global cues, rising coronavirus cases and profit taking. Foreign portfolio investors (FPIs) have remained marginal sellers so far in Indian equities, pulling out $168.69 million in total, so far in July. On Tuesday, the 30-share index, Sensex, fell 660.63 points or 1.8% to close at 36,033.6. The benchmark Nifty tanked by 195.81 points or 1.8% to close at 10,607.35.
FPI flows into Indian equities have tapered down since June, where they bought stocks worth $2.7 billion. July, so far, has captured marginal outflows against the buying witnessed in May and June, which stood at $1.3 billion and $2.7 billion, respectively. FPIs on Monday, in line with the gains of the equity markets, bought stocks worth $29.1 million, revealed provisional data. Domestic institutional investors sold stocks worth $195.4 million. The flows to Indian equity markets have been volatile ever since the outflow of $8.3 billion, the stock market witnessed in March. According to experts, FPIs have been neutral so far.
Nifty Outlook: Nifty50 closed lower at 10607.35 level, -195.35 points, or -1.81 per cent. Today Nifty Support : 10550 and 10450 Resistance : 10700 and 10750.
