Lately, however, FPIs have been on a selling spree withdrawing around 25,000 crore from cash market since the budget on July 5. DIIs, on the other hand, buying shares worth over Rs 30,000 crore.
Foreign institutional investors remained net buyers in the quarter ended June 2019. They bought net about Rs 10,000 crore worth of stocks in the April-June period as per data available on National Stock Exchange.
Domestic institutional investors (DIIs) also remained net buyers in the period pouring more than Rs 4,700 crore.
"Foreign investors or FPIs (which also include American Depository Receipt and Global Depository Receipt) bought equities worth Rs 31,700 crore in the quarter ended June 2019. Their ownership in the BSE200 Index increased to $444 billion in the June quarter from $433 billion in the March quarter," Kotak Institutional Equities said.
The brokerage further said diversified financials, insurance, oil, gas & consumable fuels and telecommunication services were the top sectors that witnessed foreign buying while domestic institutional investors sold companies in capital goods, electric utilities and oil, gas & consumable fuels sectors.
FPI and DII holdings in the BSE200 stood at 24.1 percent and 13.5 percent at the end of June 2019 quarter, it said.
Kotak, talking about April-June period, said FPIs were overweight on banks, diversified financials and IT services while turned underweight on consumer staples and capital goods sectors.
MFs were overweight on banks, capital goods and electric utilities, but underweight on consumer staples, diversified financials and IT services sectors, according to Kotak.
In the three-month period, FPIs increased stake in the range of 1.4-8 percent in 30 companies. Top 15 among them included Gruh Finance, Mahindra Logistics, Godrej Properties, Shriram Transport, SBI Life Insurance, ICICI Lombard, Reliance Nippon Life, Bharti Airtel, Apollo Tyres, Aster DM Healthcare, etc.
On the other side, FPIs reduced stakes in the range of 2-6.6 percent in top 15 companies that included Yes Bank, Dish TV, DLF, Escorts, Indiabulls Housing, Cadila Healthcare, Bank of Baroda, Mindtree, Hero Motocorp, etc.
These companies have been hit by corporate governance issued, high debt burden, weak corporate earnings or slowdown.
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