 "FII ownership in Indian markets at record high: Macquarie")
Foreign institutional investors’ (FIIs) ownership of Indian stocks as measured in the BSE 200 reached an all time high as of December 2012, brokerage Macquarie said in a report.
The October-December quarter saw broad-based buying from FIIs, with financials seeing the most buying, followed by consumer discretionary, industrial and healthcare stocks, according to the report dated on Friday.
“Data suggests that investors are looking to go overweight and buy cyclical sectors but have been choosy about stocks,” Macquarie wrote.
[caption id=“attachment_604921” align=“alignleft” width=“380”] AFP[/caption]
The Indian stocks that saw the most buying were Tech Mahindra, Indusind Bank, Housing Development Finance Corp, Mahindra and Mahindra Financial Services, Mahindra and Mahindra, according to Macquarie.
By contrast the stocks that saw the biggest FII holding reductions were Aditya Birla Nuvo, JSW Steel, Cairn India, Shree Cement and Reliance Capital.
Reuters
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