Mumbai: Bank of America-Merrill Lynch (BofA-ML) on Tuesday said with an estimated USD 10 billion pumped in during the March quarter, foreign institutional investors' (FIIs) holding in Sensex firms has touched an eight-year high, while the promoter stake in them was lowest in as many years.
"FII holding in the Sensex companies has gone up to the highest level in the past eight years whereas the promoters' shareholding (in these firms) is the lowest in last eight years as well," the international brokerage said in a research note.
FIIs have pumped in a massive USD 12 billion into Indian equities so far in 2013. The report said FII ownership in the 30 companies, which make the BSE benchmark Sensex, went up to 25.3 percent as on March 2013, from 24.5 percent a year ago, while the same for promoters was down to 46.5 percent from 46.7 percent a year ago.
In the March quarter, the FIIs were net buyers, while the domestic institutions, including state-run life insurance giant LIC, were the net sellers in shares.
Sectors like financial services continued to excite the foreign funds, the report said, adding they also bought scrips in the utilities, pharma and software spaces.
However, the FIIs were bearish on sectors like real estate and energy, it added. Among the stocks, state-run NTPC, Axis Bank, TCS and ITC were among the most attractive counters for the FIIs, while GSK Cons, Hindalco, Hero Moto, Coal India and Jindal Steel witnessed selling during the quarter, the note said.


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