FPIs’ holding in BSE-200 firms dips to $291 bn from $304 billion

Foreign Portfolio Investors (FPIs) have lowered their holding in BSE-200 companies to $291 billion during the January-March quarter and heavy selling was seen in sectors like banking and pharma, says a report. In comparison, FPI ownership in the BSE-200 index was at $304 billion during the December quarter, according to the Kotak Institutional Equities report.

In percentage terms, FPI holdings in BSE-200 companies came down marginally to 24.5 per cent in the March quarter against 24.8 per cent in the preceding quarter. A sector-wise analysis shows that heavy selling was seen by foreign portfolio investors including American Depository Receipts (ADRs) and global depository receipt (GDR) in banking, pharmaceuticals and automobiles sectors.

Meanwhile, domestic institutional investors (DIIs) increased their stakes in sectors such as banking, utilities and pharmaceuticals. "DII holdings in BSE-200 companies increased to 11.1 per cent in the March quarter from 10.9 per cent at the end of the previous quarter," the report noted. Sectorwise, FPIs are overweight on banking and technology sectors and underweight on consumer, industrials and energy space. Meanwhile, mutual funds are overweight on industrials and banking sectors; underweight consumer, technology and energy.