These 5 stocks constitute 30% of FPI portfolio in BSE100; do you own any?
Foreign institutional investors (FIIs), which were considered the backbone of the rally seen in Indian stocks till October end, have slowed down in November. They bought equities worth $4.5 billion in the September quarter.
"FPIs bought stocks to the tune of $4.5 billion in Q2 of FY17 compared with $1.7 billion invested in Q1 of FY17. Their top 'buys' included Axis Bank BSE 0.28 %, UPL, Tata Motors, Reliance Industries BSE 0.70 % and LIC Housing Finance," ICICI Securities said in a report.
The report said five stocks constituted over 30 per cent of their portfolio in the S&P BSE 100, which included Infosys BSE -0.01 %, HDFC Bank BSE -0.76 %, HDFC, TCS and Reliance Industries.
Private banks, IT, auto, NBFCs, consumer staples and pharma were among the sectors owned heavily by FPIs.
At the end of Q2 of FY17, relative to Nifty50, the top five stocks where FPIs remained overweight included HDFC, Axis Bank, Idea Cellular, Tata Motors and Zee Entertainment.
Their top five underweight stocks included ITC BSE -1.66 %, L&T, Reliance Industries, State Bank of India BSE -0.36 % and ONGC.
Major buying was seen in sectors like auto ($1.0 billion), NBFC ($0.6 billion), materials ($0.6 billion), metals ($0.7 billion), and private banks ($0.3 billion). However, pharma and telecom sectors saw some pullout.
Domestic institutional investors (DIIs) were net sellers of stocks to the tune of $1.3 billion in the September quarter compared with $0.4 billion buying seen in the first quarter.
Their top 'buys' included Infosys, HDFC Bank, Sun Pharma BSE 2.58 %, Coal India BSE 0.03 % and Kotak Mahindra Bank BSE 0.42 %. The top 'sell' list included names like Axis Bank, Tata Motors, Maruti Suzuki, Reliance Industries and HPCL BSE 3.81 %.
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