Foreign portfolio investors (FPIs) sold around USD14 billion worth of securities in the secondary market in the quarter that ended in March 2022 said Kotak Securities in a report. FPIs sold stocks in banks, diversified financials, and information technology services. Domestic institutional investors (DIIs), on the other hand, purchased almost USD14 billion in stocks during the March quarter. DIIs bought banks, diversified financials, and IT services companies as a result. "In the March quarter, FPI holdings in the BSE-200 index fell to 22.4 percent from 23 percent in the December quarter.
The DII's stake in the BSE-200 Index climbed to 14% in the March quarter, up from 13.4% in the previous quarter "According to the report, Banks and diversified financials were overweight for FPIs, while consumer staples and medicines were underweight.
"FPIs were overweight in banks and diversified financials, but underweight in consumer staples and pharmaceuticals, whereas MFs were overweight in banks and capital goods, but underweight in consumer staples, IT services, and oil, gas, and consumable fuels."