Moneycontrol
Aug 29, 2017 05:45 PM IST | Source: CNBC-TV18

Domestic MFs, institutions bought ICICI Bank the most in Q2FY18: Morgan Stanley

Of the top 20 stocks owned by foreign portfolio investors, HDFC Bank and ICICI Bank saw the most buying, while Infosys saw the most selling.

Domestic MFs, institutions bought ICICI Bank the most in Q2FY18: Morgan Stanley

Ridham Desai of Morgan Stanley said Indian markets are becoming institutionalised, led by domestic investors.

In Q2FY18 so far, foreign portfolio investor equity ownership rose to record levels of 27.5 percent, up 59 bps QoQ. Domestic Mutual Funds' equity stake at 5.6 percent is at the highest level since December 2001.

Of the top 20 stocks owned by foreign portfolio investors, HDFC Bank and ICICI Bank saw the most buying, while Infosys saw the most selling.

He said the largest overweight is on HDFC Bank, and the largest underweights are Reliance Industries and Infosys.

Domestic Mutual Funds bought ICICI Bank the most and sold L&T the most, he added. Overall, institutions bought ICICI Bank the most and sold Infosys the most, Desai said.


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Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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