When the domestic stock markets on Tuesday hit another record high, domestic institutional institutions (DIIs) were sellers, refusing to join the buying euphoria. While foreign portfolio investors (FPIs) bought stocks worth Rs 2,134 crore, DIIs made net sales of Rs 785 crore during the day.
Unlike FPIs, domestic institutions (DIIs) led by LIC, insurance companies and mutual funds are not very active in the ongoing bull run. On Monday, FPIs invested Rs 1,995 crore but DIIs pulled out Rs 337 crore. Aided by FPI buying, the Sensex soared by 274 points, 0.42 per cent, to a record high of 65,479.05 and the NSE Nifty soared by 66 points to 19,389 on Tuesday.
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