Foreign investors broad buyers of Indian shares: HSBC
Feb 20 2014
That meant all sectors, except healthcare and staples, saw an increase in FII ownership. Information technology, consumer discretionary and utilities saw the highest net buying by FIIs, HSBC said.
Interestingly, overseas investors appear underweight in IT - the one sector that had attracted much FII flows - only because the sector weightage was increased by 10 percent in absolute weight terms in the MSCI India index.
FIIs also increased stakes in 26 industrial companies during the quarter, signalling some rotation towards domestically oriented sectors.
Power Grid Corp of India, Tech Mahindra, UPL, Housing Development & Infrastructure, Yes Bank are the stocks that saw the biggest increase in FII ownership.
The biggest FII selling was in Hexaware Technologies, Multi Commodity Exchange of India, Strides Arcolab, Apollo Tyres and Unitech.