Foreign investors prefer Indian cyclicals, utilities: Macquarie

Tags: Stock Market
Macquarie says foreign ownership of BSE 200 index is steady at an all-time high of around 21 percent in June compared with May, with room to grow since unutilised portion is worth $152 billion for the index.

In April-June FIIs preferred cyclicals, while utilities gained 100 bp in overseas holdings and financials saw 85 bps decline, the brokerage adds.

Key stocks, according to Macquarie, where FIIs are still underweight (vs MSCI) but saw increase in weightage and ownership during the quarter were: Larsen and Toubro, State Bank of India, NTPC and Reliance Industries.

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