Foreign investors broad buyers in 75 pct of BSE 200 cos, says HSBC

Feb 20 2014, 13:18 IST
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FIIs increased stakes in 26 industrial companies during the October- ecember quarter. FIIs increased stakes in 26 industrial companies during the October- ecember quarter.
SummaryInterestingly, overseas investors appear underweight in IT that had attracted much FII flows.

Foreign investors have been broad buyers of Indian shares in the October-December quarter, with increases in foreign institutional investments (FIIs) in about 75 per cent of the BSE 200 companies, according to a report by HSBC on Thursday.

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 per cent 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 Corporation of India Ltd, Tech Mahindra Ltd, UPL, Housing Development Finance Corporation Ltd (HDFC), 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.

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