Domestic Institutional Investors (DIIs) extended their net buying streak to 18 sessions, purchasing ₹4,977 crore of Indian equities on September 3, according to provisional exchange data. This marked a significant increase from the previous session's net buying of ₹2,812.98 crore. The DII buying was stronger than in the previous session, with purchases worth ₹17,064 crore against sales of ₹12,086 crore. Meanwhile, Foreign Institutional Investors (FIIs) turned net sellers, selling ₹2,346 crore during the session, despite having reported net buying of ₹6,688.37 crore on September 2, nearly six times the previous session's purchase of ₹1,143.38 crore. For the year, FIIs have remained net sellers offloading ₹3.4 lakh crore in shares, while DIIs have net bought shares worth ₹5.6 lakh crore. During the session, FIIs purchased shares worth ₹13,596 crore but sold shares amounting to ₹15,942 crore.
Indian benchmark indices ended lower on September 3, with the Sensex declining 417.49 points or 0.55% to 76,152.86 and the Nifty falling 41 points or 0.17% to 23,873.45, as reported by Moneycontrol. The broader market outperformed the main indices, with the Nifty midcap index rising 0.37% and the smallcap index advancing 1.2%. On the sectoral front, auto, FMCG, IT and Pharma sectors declined 0.5% each, while the Realty index gained 2.5%, Media index rose 1.7%, and PSU Bank and Private Bank sectors rose 0.5% each. Top gainers on Nifty included Adani Ports, Axis Bank, HDFC Bank, Bharat Electronics, and Asian Paints, while losers were Tech Mahindra, Cipla, Bajaj Auto, Cipla and M&M.
Banks lent support to the market, with Axis Bank and HDFC Bank among the top Nifty gainers, according to Moneycontrol reports. RBL Bank and IDFC First Bank also gained as investors tracked reports of large FCNR deposits, with both stocks rising up to 5%. Adani Ports ended around 2% higher after reacting positively to a brokerage note. Capital market plays, including BSE and Angel One, also moved higher, with BSE gaining 4%. On the downside, Godrej Consumer Products fell 3% after inventory concerns emerged from its analyst meet, while Ather Energy extended Wednesday's losses, ending 3% lower.
Air-conditioning companies Blue Star and Voltas saw buying interest, gaining up to 3%. Inox Wind surged 5% following an order win, while Solar Industries gained 4% amid reports of an acquisition in the international market, as reported by CNBC TV18. Hikal, Raymond, Brigade Enterprises and Shanti Gears were among the other notable gainers, rising as much as 20% on healthy volumes. The rupee strengthened to a two-month high, tracking large FCNR flows. According to Nandish Shah - Deputy Vice President, HDFC Securities, today's follow-through selling reinforces the near-term downtrend, with Nifty trading below all key moving averages, reflecting sustained selling pressure and weak sentiment. "Technically, the index faces strong resistance in the 24,000–24,200 zone, now a critical supply area for any recovery. On the downside, a decisive break below 23,800 could open the path toward 23,600, while holding above this level may allow for short-term consolidation within the broader downtrend," he said.
