Sensex, Nifty Open Lower as FII Selling Hits Fifth Day

Sectors: IT Shines, Autos Slide

Nifty Auto, Cement, Realty, Media and Healthcare were the top laggards, falling up to 2.76% in early trade. Energy, metal and pharma indices also fell between 0.86% and 0.95%.

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On the positive side, Nifty IT rose more than 1%, and Nifty Private Bank gained 0.60%.

Why It Matters: The September Scorecard

The scale of foreign selling over the past month is striking. FIIs sold equities worth ₹45,536 crore through exchanges in September, while investing ₹9,676 crore through the primary market, according to analysts. That still leaves a net outflow of roughly ₹35,860 crore for the month.

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Nifty, Sensex Fall for 7th Straight Week on Crude, Yields Markets

Analysts said sustained FII selling and rising US bond yields could keep largecap stocks under pressure in the near term.

A Shift in the Tug of War

There was one notable change on Wednesday. For the first time this week, domestic institutional investors bought more than foreign investors sold. DIIs purchased ₹11,271 crore against FII sales of over ₹10,148 crore, a net domestic inflow of about ₹1,100 crore.

On Tuesday, by contrast, DIIs had bought nearly ₹7,000 crore while FIIs sold nearly ₹10,000 crore. The stronger domestic buying suggests local institutions are increasingly stepping in at lower levels, in line with experts' view earlier this week that largecaps have reached attractive valuations.

Key Levels

Support has moved lower again. On Wednesday, it was placed at 22,650–22,700; now it is 22,500–22,550. Analysts described the near-term structure as sideways to bearish. A sustained move above resistance could lift sentiment, while a break below support may keep selling pressure intact.

The Crude Trigger

Analysts pointed to crude oil as the key factor to watch. A fall in Brent crude below $98 a barrel could bring some relief. That is a meaningful drop from the $106-plus levels seen earlier this week, and would likely depend on progress in easing tensions around the Strait of Hormuz.

The Bottom Line

Foreign investors closed September with heavy selling and have started October the same way. Domestic institutions are absorbing more of that pressure, but a real turnaround may need a trigger from outside: lower crude prices or softer US yields.

With inputs from IANS.