Today marked the second-largest day of Foreign Institutional Investors (FII) dumping stocks since October 1st, with sales amounting to 11,000 crores. This follows the largest sell-off on October 3rd, when FIIs sold stocks worth 17,000 crores. The recent sell-off was primarily focused on tech and insurance stocks, with Nifty IT at an all-time high and insurance-related news serving as triggers.
However, it’s important to note that expiry plays are typically volatile, and this was just another expiry doing what expiries usually do. The market is structurally in a bull phase, and any correction is a normal part of it. The game is not solely about FII and Domestic Institutional Investors (DII) buy or sell activities, as these can be used as propaganda to instill fear in retailers. The focus should be on long-term trends rather than short-term fluctuations.
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