But in the prior three months, these DIIs sold shares in large volumes. The cut exposure to 62 per cent of Nifty50 companies in the March quarter, while in the broader NSE500 index, their aggregate holding plunged to a seven-quarter low.
FPIs, meanwhile, raised stakes in 64 per cent of Nifty firms and saw their holdings in Nifty500 companies come back to pre-Covid levels.
Latest shareholding data showed the domestic institutional class was seen trimming stakes in capital-heavy industries and discretionary plays while they increased holdings in consumer and healthcare stocks.
Data compiled from corporate database AceEquity showed mutual funds and insurance companies together sold 1.67 per cent stake in Power Grid in the March quarter.
They also cut stake by 1.48 per cent in Grasim Industries and by 1.22 per cent in
. Their holdings went down by 110 basis points in Bharti Airtel, by 1.07 per cent in Tata Consumer and by 1.01 per cent in HDFC.
Hero MotoCorp, HDFC Life, Cipla and Adani Ports and ICICI Bank were some of the other stocks where the DIIs trimmed stakes by 80-00 basis points in the March quarter.
“On a QoQ basis, DIIs raised stakes in consumers (up 30 bps), healthcare (up 20 bps) and PSU banks (up 20 bps). Utilities (down 120 bps), consumer durables (down 90 bps), capital goods (down 50 bps), and telecom (down 50 bps) saw DII holdings come down by more than 50 bps,” Motilal Oswal said.
ETMarkets.com
ETMarkets.comIn value terms, DIIs held $378 billion worth of shares in Nifty500 stock. Out of this, private banks accounted for $59 billion worth of investment, technology $43 billion and consumer $40 billion.
In terms of ownership, DIIs had the biggest ownership in capital goods (21.9 per cent), private banks (20.4 per cent), metals (18.3 per cent), consumer durables (17.8 per cent) and PSU banks (17.6 per cent), Motilal Oswal Securities said in a note.
LIC, which commands 76 per cent share in equity investments by insurance companies, saw its holding in NSE stocks fall to an all-time low of 3.66 per cent as on March 31, down from 3.70 per cent as of December 31, 2020 and from an all-time high of 5 per cent as on June 30, 2012, data from Prime Database showed.
“This was on account of profit booking by India’s largest institutional investor. In rupee terms, it reached an all-time high of Rs 7.24 lakh crore in March quarter, an increase of 6.30 per cent over the previous quarter,” a Prime Database report showed.
