Foreign Portfolio Investors (FPIs) have raised their stake in BSE-200 companies to $337 billion during July-September quarter and heavy buying was seen in sectors like banking and telecom, says a report. FPI ownership in the BSE-200 index stood at $311 billion during the June quarter, according to the Kotak Institutional Equities report.
In percentage terms, FPI holding (including American Depository Receipts or ADRs and global depository receipt or GDR) in the index marginally rose to 25 per cent in three months ended September 30, 2016 against 24.8 per cent in the preceding quarter.
A sector-wise analysis shows that FPIs invested in automobiles, banking and energy and sold pharmaceuticals, technology and telecom stocks. Meanwhile, domestic institutional investors (DIIs) holdings in BSE-200 companies decreased marginally to 11.3 per cent in the September quarter from 11.4 per cent at the end of the previous quarter.
DIIs have reduced stake in automobiles, energy and cement sectors and bought stocks in technology and pharmaceuticals sectors. FPIs have bought maximum stake in Manpasand Beverages during the quarter under review -- 5.9 percentage points followed by Bharat Financial Inclusion and Supreme Industries (5.8 percentage points each).
Overseas investors also raised their holdings in Axis Bank, DCB Bank, Karnataka Bank, Teamlease, Mahanagar Gas, Hindalco Industries, Reliance Capital and Tata Motors. On the other hand, Carborundum Universal saw substantial decline in FPI holdings -- 11.1 percentage points, followed by Ambuja Cements (4.9 percentage points) and Shriram City Union Finance (4.3 percentage points).
