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FIIs raise stake in two-thirds of Nifty 50 stocks in Jan-Mar; DIIs sell in 62% firms

The benchmark NSE Nifty 50 has recovered from recent lows, almost doubling since March 2020. Image: Reuters

Foreign Institutional Investors (FIIs) were net buyers in Indian share market in the January-March quarter to the tune of $7.3 billion, raising weights in two-thirds of the industry sectors, and increasing stakes in a majority of Nifty 50 and Nifty 500 companies. Domestic Institutional Investors, on the other hand, were net sellers at $3.2 billion, cutting stakes in a majority of top 500 companies on the NSE, according to data by Motilal Oswal Financial Services. The benchmark NSE Nifty 50 has recovered from recent lows, almost doubling since March 2020. The Nifty Midcap 100 has gained over 123 per cent in the same period.

FIIs on a shopping spree

FII holding in the Nifty 500 index was back at pre-COVID levels in the fiscal fourth quarter January-March 2021. It was a marginal decline sequentially, but a 22.3 per cent increase on-year. Foreign investors increased ownership in 64 per cent in Nifty 50 firms, and in 57 per cent of Nifty 500 companies, sequentially in January-March. In the Nifty 500 index, FIIs have the highest ownership in Private Banks followed by NBFCs, Oil & Gas, Insurance and Real Estate.

DIIs sell

DII holdings in the Nifty 500 hit a seven-quarter low at the end of the March 2021 quarter. Their stake was down 10bp sequentially and 50bp on-year to 14.2 per cent. DIIs trimmed stake in 62 per cent of Nifty 50 companies, and in 56 per cent of Nifty 500 companies. DIIs have the highest ownership in Capital Goods, Private Banks, Metals, Consumer Durables and PSU Banks. Out of total DII holdings of $378 billion in the Nifty 500, Private Banks are at the top, followed by Technology and Consumer.

Top stocks in which FIIs raise holdings by 1% or more

Cipla
Grasim Industries
Hero MotoCorp
– Hindalco
Power Grid Corporation of India
SBI Life Insurance
Tata Steel
UPL

FIIs raise holdings in these sectors

– Telecom (+130bp)
– Metals (+100bp)
– Consumer Durables (+100bp)
– Real Estate (+80bp)
– Cement (+60bp)
– Chemicals (+60bp)
– Insurance (+50bp)
– Healthcare (+40bp)

FIIs cut holdings in these sectors

– NBFCs (-40bp)
– Auto (-30bp)
– Consumer (20bp)
– Technology (10bp)

Top stocks in which DIIs raise holdings by 1% or more

Bajaj Auto
BPCL
IndusInd Bank
– SBI Life Insurance

DIIs increase stake these sectors

– Consumer (+30bp)
– Healthcare (+20bp)
– PSU Banks (+20bp)

DIIs cut stake in these sectors

– Utilities sector (-120 bp)
– Capital Goods (-90 bp)
– Capital Goods (-50 bp)
– Telecom (-50 bp)

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