Foreign holdings of Indian stocks hit record high - Macquarie

Last Updated: Mon, Jan 28, 2013 08:09 hrs
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Foreign institutional investors' (FIIs) ownership of Indian stocks as measured in the BSE 200 reached an all time high as of December 2012, Macquarie says in a report.

The October-December quarter saw broad-based buying from FIIs, with financials seeing the most buying, followed by consumer discretionary, industrial and healthcare stocks, according to the report dated on Friday.

"Data suggests that investors are looking to go overweight and buy cyclical sectors but have been choosy about stocks," Macquarie wrote.

The Indian stocks that saw the most buying were Tech Mahindra Ltd, Indusind Bank Ltd, Housing Development Finance Corp Ltd, Mahindra and Mahindra Financial Services Ltd, Mahindra and Mahindra Ltd, according to Macquarie.

By contrast the stocks that saw the biggest FII holding reductions were Aditya Birla Nuvo Ltd, JSW Steel Ltd , Cairn India Ltd, Shree Cement Ltd , and Reliance Capital Ltd.

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