FPIs buying bank stocks but reducing exposure to IT, insurance & oil
As per the data, FPIs dumped Rs 5,626 crore worth of software and service stocks in February 1-15 period, in addition to Rs 12,928 crore worth of selling in the previous fortnight i.e. January 16-31.
By Amit Mudgill, ETMarkets.com | Updated:
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NEW DELHI: Foreign portfolio investors (FPIs) kept on reducing their exposure to IT stocks in the first half of February even as they restarted buying into banking names, fortnightly data available with NSDL suggests.
Metals & mining, pharmaceuticals and textiles were some of the sectors that FPIs were bullish on, despite being net sellers to the tune of Rs 12,873 crore in the first half of February. These institutional investors had also sold equities worth Rs 35,160 crore in the second half of January.
As per the data, FPIs dumped Rs 5,626 crore worth of software and service stocks in February 1-15 period, in addition to Rs 12,928 crore worth of selling in the previous fortnight i.e. January 16-31.
FPIs made Rs 2,760 crore in investments in banks after pulling out some Rs 2,701 crore in the previous fortnight. That said, the institutional investor category was net seller to the tune of Rs 4,661 crore in the 'other financial services' category, which includes housing finance companies, holding companies, NBFCs and AMCs, they were buyers of banking stocks, data showed. This was in addition to Rs 5,832 crore worth of NBFC stocks they sold between January 16 and January 31.
Selling in the oil & gas sector intensified, standing at Rs 2,091 crore for the first half of February from Rs 1,736 crore in the second half of January. Similar was the case with insurance, household & personal products, hotels and capital goods sectors where selling intensified. Outflows in insurance sector stood at Rs 1,496 crore (against Rs 805 crore in H2 January), household at Rs 962 crore (against Rs 800 crore), hotels at Rs 798 crore (against Rs 632 crore) and capital goods at Rs 529 crore (against Rs 222 crore).
The utilities sector saw a sale of Rs 764 crore compared with a buying of Rs 597 crore in the second half of January.
Overall, FPI portfolio of domestic equities was valued at Rs 47,28,861 crore as of February 15 compared with Rs 47,90,976 crore as of January 31.
Metals & mining, pharmaceuticals and textiles were some of the sectors that FPIs were bullish on, despite being net sellers to the tune of Rs 12,873 crore in the first half of February. These institutional investors had also sold equities worth Rs 35,160 crore in the second half of January.
As per the data, FPIs dumped Rs 5,626 crore worth of software and service stocks in February 1-15 period, in addition to Rs 12,928 crore worth of selling in the previous fortnight i.e. January 16-31.
FPIs made Rs 2,760 crore in investments in banks after pulling out some Rs 2,701 crore in the previous fortnight. That said, the institutional investor category was net seller to the tune of Rs 4,661 crore in the 'other financial services' category, which includes housing finance companies, holding companies, NBFCs and AMCs, they were buyers of banking stocks, data showed. This was in addition to Rs 5,832 crore worth of NBFC stocks they sold between January 16 and January 31.
Selling in the oil & gas sector intensified, standing at Rs 2,091 crore for the first half of February from Rs 1,736 crore in the second half of January. Similar was the case with insurance, household & personal products, hotels and capital goods sectors where selling intensified. Outflows in insurance sector stood at Rs 1,496 crore (against Rs 805 crore in H2 January), household at Rs 962 crore (against Rs 800 crore), hotels at Rs 798 crore (against Rs 632 crore) and capital goods at Rs 529 crore (against Rs 222 crore).
The utilities sector saw a sale of Rs 764 crore compared with a buying of Rs 597 crore in the second half of January.
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Meanwhile, metals (Rs 1,696 crore), pharmaceuticals (Rs 1,376 crore) and textiles (Rs 439 crore) saw buying by FPIs.Overall, FPI portfolio of domestic equities was valued at Rs 47,28,861 crore as of February 15 compared with Rs 47,90,976 crore as of January 31.
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