New Delhi: Foreign portfolio investors (FPIs) raised their exposure in 17 Sensex companies during the July-September quarter, buying shares worth nearly Rs 34,000 crore at the current valuation.
However, the holding of FPIs declined in 12 other blue-chips in the second quarter of the current fiscal year compared to preceding three months and data of one company was not available, showed an analysis of shareholding pattern of the Sensex constituents.
Overseas investors have picked up maximum stake in Axis Bank during the quarter under review – increasing their holding by 4.94 per cent.
FPIs’ stake in Axis Bank rose to 50.75 per cent during three months ended September 30, compared with 45.81 per cent in June quarter.
Overseas investors’ stake in Reliance Industries increased to 12.86 per cent in July-September quarter from 8.24 per cent in the preceding three months.
At current share prices, FPIs snapped up shares worth about Rs 33,900 crore in 17 Sensex constituents. At the same time, they sold shares worth about Rs 6,180 crore in 12 blue-chip companies, resulting in a net inflow of over Rs 27,700 crore in all the Sensex firms together.
Besides, these investors raised holding in Adani Ports & Special Economic Zone, Hero MotoCorp, Tata Motors and Dr Reddy’s Laboratories among others.
On the other hand, FPIs’ holding dropped in ICICI Bank, Sun Pharmaceutical, Infosys and Gail India.
Market experts said a slew of factors including sound progress in rollout of Goods and Services Tax (GST), better corporate earnings and the Federal Reserve’s decision of not raising the interest rates prompted FPIs to infuse money in the Indian stock markets.
The total value of shares purchased is Rs 34,000 crore mainly because these scrips were bought at a higher price.
Foreign investors have invested more than Rs 32,000 crore in the stock markets during the quarter under review, higher than Rs 14,500 crore pumped in the preceding quarter.