Foreign ownership of Sensex stocks at eight-year high: BofA-ML

Reuters Market Eye - Foreign institutional investors' (FIIs) ownership of the BSE Sensex stocks touched its highest in eight years as of the January-March quarter, Bank of America Merrill Lynch said in a research report.

During the Jan-March quarter, FIIs were net buyers of Indian equities, while domestic mutual fund companies and state-owned insurer LIC were sellers, it said.

Key stocks bought by FIIs during the quarter were NTPC Ltd , Axis Bank Ltd , Infosys Ltd , Tata Consultancy Services Ltd and ITC Ltd , BofA-Merrill said.

GlaxoSmithKline Consumer Health Ltd , Hindalco Industries Ltd , Hero Motocorp Ltd , Coal India Ltd and Jindal Steel and Power were the key stocks sold by foreign investors in the three-month period.

 

According to regulatory data, FIIs have been net buyers for 15 consecutive sessions, bringing their total investment for the year to $12.70 billion.