DIIs Save Indian Market from Foreign Selling After US Rate Hike

Domestic institutional investors (DIIs) in India have stepped up buying in Indian equities following the U.S. Federal Reserve's interest rate hike for the first time in over three years.

The rate hike triggered concerns that higher yields in the U.S. could attract funds away from emerging markets, putting pressure on Indian equities.

However, DIIs came to the rescue by buying shares worth Rs 12,504 crore in September, while foreign investors sold equities worth Rs 10,825 crore during the same month.

The Nifty 50 plunged 6.4 per cent, marking its sharpest decline during a Fed rate hike cycle in recent times.