Foreign institutional investors bought shares worth ₹393 crore on July 7, marking two straight days of inflows. Meanwhile, domestic investors sold ₹383 crore, leading to a balanced market day. Benchmark indices gained ground as investors focused on financial and auto stocks ahead of the June-quarter earnings season.
Indian stock markets finished the trading session on July 7 with modest gains, as foreign institutional investors (FIIs) remained net buyers for the second consecutive day. The BSE Sensex rose by 270.01 points to close at 77,732.95, while the NSE Nifty 50 added 61.20 points to settle at 24,193.30.
Foreign investors demonstrated consistent interest, with gross purchases of ₹18,414.01 crore against sales of ₹18,020.82 crore, resulting in a net inflow of ₹393.19 crore. In contrast, domestic institutional investors (DIIs) acted as net sellers for the day. Domestic funds recorded gross purchases of ₹18,897.44 crore but offloaded equities worth ₹19,280.87 crore, resulting in a net outflow of ₹383.43 crore.
Sector Focus Ahead of Earnings
The positive market sentiment was driven by buying activity in the financial and automotive sectors. Investors are currently adjusting their portfolios in anticipation of the upcoming June-quarter corporate earnings. The results for this quarter are expected to provide insights into demand trends and profit margins across key industries.
Market experts noted that the indices showed resilience despite the selling pressure from domestic funds. Financial stocks, which carry significant weightage in both the Sensex and Nifty, played a crucial role in maintaining the positive momentum throughout the day.
Market Outlook and Monitoring
Looking ahead, investors are likely to watch how the market behaves as earnings reports begin to surface. While some analysts anticipate a period of consolidation following recent price increases, others are focusing on specific index levels. The range of 24,200 to 24,600 on the Nifty is seen as a potential consolidation zone. Support levels near 24,000 to 24,200 will be closely watched, as these areas have previously attracted buying interest. The next important step for investors will be to analyze company-specific results, as these will likely determine the direction of sector-specific movements in the coming weeks.