Foreign institutional investors continued selling Indian equities as they net sold Rs 6,994.86 crore worth of shares on May 9. On the other hand, domestic institutional investors bought equities worth Rs 5,642.53 crore during the session.

According to provisional data from the exchanges, FIIs bought shares worth Rs 11,353.03 crore and sold shares worth Rs 18,347.89 crore. Meanwhile, DIIs picked up shares to the tune of Rs 16,351.32 crore and sold shares worth Rs 10,708.79 crore during the session.

Market witnessed widespread decline with frontline indices dropping 1-2 percent, while the midcap index plunged 1,000 points. Weakness persisted in the midcap segment, favouring declines in market breadth. Despite the overall weakness, auto stocks, particularly 2-wheelers, stood out in a weak session. However, Tata Power and UBL faced negative market reaction to Q4 results, each down by 5 percent.

Except Nifty Auto, all sectors declined. Nifty Oil & Gas fell 3.2 percent while Nifty Metal and FMCG indices dropped 2.9 percent and 2.5 percent, respectively. Nifty Pharma and Realty indices also fell 2 percent each. Among gainers, Nifty Auto rose by 0.8 percent.

In the year so far, FIIs sold shares worth Rs 1,07,106.31 crore, DIIs bought shares worth Rs 1,69,321 crore at the same time. Nifty has advanced 0.99 percent so far in the year while Sensex has fallen 1.45 percent.