FPIs sold $14 bn equities in Q1 2022: Report

NEW DELHI: Foreign portfolio investors (FPIs) have sold around $14 billion worth of equities in the secondary market in the quarter that ended in March 2022, said Kotak Securities in a report.

PIs offloaded stocks in banks, diversified financials and IT services. On the flip side, domestic institutional investors (DIIs) bought around $14 bn worth of equities during the March quarter. Accordingly, DIIs bought banks, diversified financials and IT services stocks.

“FPI holding in the BSE-200 index declined to 22.4 per cent in the March quarter from 23 per cent in the December quarter. DII holding in the BSE-200 Index increased to 14 per cent in the March quarter from 13.4 per cent in the December quarter,” the brokerage house said in the report.

Highest increase in stake by the FPIs are seen in Restaurant Brands Asia, Mindspace REIT and Lemon Tree Hotels, mutual funds in Coforge, Metropolis Healthcare and Equitas Small Finance Bank, and BFIs in Tata Steel, PVR. BFIs include banks, financial institutions and insurance companies.

On the other hand, highest decrease in stake by the FPIs was witnessed in Jubilant Foodworks and Motherson Sumi Systems, MFs in RBL Bank, Voltas and City Union Bank, and BFIs in Hindustan Aeronautics, Godrej Industries and Bata India.

“FPIs were overweight on banks and diversified financials; underweight on consumer staples and pharmaceuticals, whereas MFs were overweight on banks and capital goods; underweight on consumer staples, IT services and oil, gas & consumable fuels.”

Highest increase in stake by the FPIs are seen in Restaurant Brands Asia, Mindspace REIT and Lemon Tree Hotels, mutual funds in Coforge, Metropolis Healthcare and Equitas Small Finance Bank, and BFIs in Tata Steel, PVR.