Traders watch heavily foreign-owned stocks

Reuters Market Eye - Traders are warily watching Indian stocks with heavy foreign ownership as they are ones expected to fall further should selling from overseas funds accelerate.

According to exchange data, the top foreign-owned stocks in the benchmark BSE Sensex are: Housing Development Finance Corp Ltd (HDFC.NS) (74 percent) Infosys Ltd (INFY.NS) (40.5 percent) ICICI Bank Ltd (ICBK.NS) (about 38 percent).

Foreign institutional investors (FIIs) provisionally sold Indian shares worth a net 20.74 billion rupees on Thursday, marking their biggest single-day selling in at least a year, according to National Stock Exchange data.

FIIs have sold cash shares for eight straight sessions, totalling 59.49 billion rupees, as per exchange and regulatory data.

HDFC and ICICI Bank were flat in trade while Infosys was up 1.8 percent at 3.28 pm.

(Reporting by Abhishek Vishnoi)

Updated Date: Jun 22, 2013 04:00 AM

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