FPIs go big on fi­nan­cials, mu­tual funds on en­ergy, IT

Business Standard - - THE SMART INVESTOR - SAMIE MODAK

For­eign port­fo­lio in­vestors (FPIs) added po­si­tions in stocks of fi­nan­cials, and re­duced their ex­po­sure to the en­ergy sec­tor, an anal­y­sis of De­cem­ber 2018 quar­ter share­hold­ing data by Mor­gan Stan­ley shows. Mu­tual funds (MFs), on the other hand, in­creased their al­lo­ca­tion to in­for­ma­tion tech­nol­ogy (IT) and en­ergy stocks and pruned stake in con­sumer sta­ples. FPIs upped stake in 28 com­pa­nies, while re­duc­ing hold­ings in 44 in the Mor­gan Stan­ley top 75 uni­verse dur­ing the quar­ter. On the other hand, MFs upped their hold­ings in 49 stocks but pared stake in 25. FPIs were seen ag­gres­sively buy­ing stakes in eight stocks, in­clud­ing state-owned Power Fi­nance Corporation (PFC). MFs’ hold­ing rose by more than a per cent in 18 com­pa­nies, of which the big­gest in­crease was in Axis Bank. NRI (non-res­i­dent In­di­ans) and OCB (over­seas cor­po­rate bod­ies) ag­gres­sively bought shares of YES Bank, but also jumped shipped in case of Reliance In­fra­struc­ture. YES Bank was the big­gest sell for FPIs, while MFs off­loaded the most in Gail, dur­ing the quar­ter.

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