FII DII data: FPI sold shares worth Rs 1975.44 crore, DII bought shares worth Rs 1542.5 crore on December 16, 2022 Foreign institutional inventors (FII) sold shares worth a net Rs 1975.44 crore while domestic institutional investors (DII) purchased shares worth a net Rs 1542.5 crore on Friday, December 16, 2022, according to the data available on NSE. For the month till December 16, FII sold shares worth a net Rs 7,490.05 crore while DII bought shares worth a net Rs 10,551.62 crore. In the month of November, FIIs purchased shares worth a net of Rs 22,546.34 crore while DIIs offloaded equities worth a net of Rs 6,301.32 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. The investment decisions of both FIIs and DIIs are impacted by political and economic trends. Additionally, both types of investors — foreign institutional investors (FIIs) and domestic institutional investors (DIIs) — can impact the economy’s net investment flows. “Nifty fell for the second consecutive session on Dec 16 pulled down by weak global cues. Large day-end trades resulted in volumes touching a multi-week high. Nifty finally closed 0.79% or 145.9 points lower at 18269. Broad market indices fell more even as the advance-decline ratio remained low at 0.49:1. IT sector continued to face selling pressure as Nasdaq keeps getting sold off. Realty stocks came under selling pressure as rising rates could dampen demand for properties. Global markets were largely down as investors were worried that the resolve of central banks to continue their fight against inflation could tip the economy into a recession. Nifty lost 1.23% over the week and looks set to continue its downward move. 18088-18133 band is the next support while 18442 could be tough to breach in the near term,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
If the current trend continues for a longer period of time, not only oil mills but oilseeds growers will also not be able to get good rates of their produce, says Samir Shah, president of Gujarat State Edible Oils and Oil Seeds Association (GEOA). Shah who is also past president of SOMA says that due to various international factors rates of edible oils had gone up considerably, especially imported oils earlier this year.
“With a view to curb rising prices of edible oil, the Government of India reduced import duty on edible oils. Considering the fact that India is producing hardly 30 percent of its edible oil requirement, the decision was right at that point of time. Now when international prices of edible oils have gone down by 15 percent to 25 percent and high production period has started in edible oil exporting countries, the government should gradually increase import duty to protect local oil mills and oilseeds growers,” said Shah. GEOA has also made representation before Union Minister for Commerce & Consumer Affairs, Piyush Goyal to increase import duty.
In June import duty on edible oils was ranging from 35 to 55 percent, since then the government gradually reduced import duty and at present it is ranging from zero percent to 15 percent on different edible oils, he said.
Just a month back prices of edible oils were through the roof and the government took appropriate measures by reducing import duty in order to protect consumers, says Atul Chaturvedi, president of Solvent Extractors Association of India (SEA). “Prices of edible oils are coming down globally. Kharif sowing has already started across the country. In the interest of local farmers, it is high time to enhance import duty in a phased manner to encourage local edible oil value chain,” opined Chaturvedi.
On Thursday imported Palm oil prices were at around Rs 2100 per 15 kg as against local Rs 2700 and Rs 2550 of groundnut and cottonseed oils. Prices of other local oils including ricebran, coconut, soyabean and mustard remained as high as Rs 2350, Rs 2520, Rs 2500 and Rs 2580 respectively.
India imports around 13-13.5 million tonnes of edible oils, of which around 8-8.5 million tonnes (around 63 per cent) are palm oil. Though the price of other imported Sunflower oil remained at around Rs 2700 per 15 kg, but import quantity of the oil is much lower than that of palm oil.