The data available on the shareholding pattern of Sensex companies revealed that FIIs have consolidated holding in over 1 / 2 of the blue chip firms and reduced exposure in 14 of them for example Reliance Industries, ICICI Bank, HDFC, State Bank of India during the one fourth.
The rise in FII stakes is not very significant as they have consolidated holdings by over 1% in just two companies -- engineering major Larsen & Toubro and FMCG major Hindustan Unilever.
L&T witnessed the greatest increase of about 1. 26% in foreign holdings to 16. 44% throughout the quarter from 15. 18% in the previous quarter.
FII holding in HUL flower by around 1. 09% to 18. 35% during the quarter, from seventeen. 26% in the March quarter.
Meanwhile, the Bombay Stock Exchange 30-share catalog, Sensex, had soared 2. 16% or 399. 37 points during the one fourth to close at 18, 845. 87 on June 30. That was a large 10. 71% drop from its November high of 21, 108. 64 factors.
Mirroring the volatility in the global economy, FIIs were not very consistent while purchasing the Indian market.
In April they invested Rs 7, 213. 3 crore within the equity market, while they took out Rs 6, 614. 40 crore within May. In June they again infused Rs 4, 572. 20 crore, based on the data of the stock market regulator Sebi.
Besides, L&T and HUL, the blue chips by which FIIs increased their stakes include IT major Infosys - by 0. 76%, conglomerate ITC (0. 52%), car major Mahindra and Mahindra (0. 65%), leading two-wheeler maker Hero MotoCorp (0. 88%), HDFC Financial institution (0. 7%), country's largest IT firm TCS (0. 16%), telecom firm Bharti Airtel (0. 36%), state-run ONGC (0. 39%), BHEL (0. 17%) as well as Coal India (0. 28%).
FII holding in firms like NTPC, Sterlite Sectors, Sun Pharma and Tata Power increased marginally in the range of 0. 1 in order to 0. 07%.
FIIs have however reduced their stake in heavyweights such because Reliance Industries by 0. 33%, ICICI Bank (0. 01%), HDFC (0. 51%), Condition Bank of India (1. 92%) and Tata Steel (0. 3%).
Other companies that witnessed decrease in FII stake include -- Tata Motors (0. 62%), Jindal Steel (0. 41%), Wipro (0. 01%), Bajaj Car (0. 19%), Hindalco (0. 08%), Maruti (0. 52%), Cipla (0. 53%), DLF (0. 82%) as well as Jaiprakash (1. 42%).
The average holding of FIIs in Sensex companies for that June quarter stood at 19. 685% a tad above the March one fourth average.