Promoters' holding in Sensex cos lowest in 8 years: Jyotivardhan Jaipuria

FIIs' holdings has gone upto highest level during same period

Amid weak sentiments impacting stock markets every now and then and uncertainty looming large, promoters' holding in Sensex companies is the lowest in last 8 years, according to a report authored by Jyotivardhan Jaipuria of Bank of America Merrill Lynch.

According to the note, on the other hand FIIs' holding in the BSE's benchmark index has gone up to the highest level during the same period.

In the quarter ended June, 2013, first time in last 5 years financials is not the most overweight sector for the FIIs. Financials has been replaced by consumer discretionary as the biggest overweight sector.

Most defensive stocks in Pharma and consumers are currently close to their all time high FII ownership, the report added. These counters include Lupin, ITC and Sun Pharma among others.

The key stocks bought the most during the quarter were ICICI Bank, DLF, ADSEZ, Oracle Fin Serv and Dr Reddy, it said.