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Stock Analysis, IPO, Mutual Funds, Bonds & More

FPIs sold Rs 6,000 crore shares in Q2, but lapped up these 208 stocks

FPI holding went up from 54.34 per cent to 55.52 per cent in Indiabulls Housing Finance.

Updated: Oct 23, 2018, 03.59 PM IST
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FPIs also did a fair bit of shopping in the NBFC space, raising their holdings in Bajaj Finance to 20.08 per cent from 20.05 per cent.
Overseas portfolio investors started the current round of major selloff on Dalal Street towards the later part of the September quarter, which turned the market highly volatile.

While foreign portfolio investors (FPIs) have been withdrawing from most emerging markets ever since the US economy started firing and bond yields there turned more attractive, soaring crude oil prices and a falling rupee only hastened this selloff.

FPIs offloaded stocks worth Rs 6,000 crore in the domestic market in Q2, and at least double that amount in September and October.

Curiously, at the same time, they were busy picking stocks from sectors like chemicals, abrasives, auto ancillary, select private and public banks, pharma and information technology.

Within the BSE500 basket, FPIs raised stakes in almost half or over 200 stocks during the quarter. Among notable names, Aarti Industries saw FPI holding go up to 4.20 per cent at the end of September quarter from 3.80 per cent at the end of June quarter.

Among others, FPI holding went up from 4.02 per cent to 4.11 per cent in Gujarat Fluorochemicals, from 5.47 per cent to 5.59 per cent in Atul, 2.36 per cent to 2.45 per cent in Himadri Speciality Chemicals, 23.95 per cent to 24.41 per cent in Jubilant Life Sciences and 11.83 per cent to 11.87 per cent in Pidilite