GN Bureau | October 19, 2015
Foreign institutional investors (FIIs) sold equity shares worth nearly Rs 5,000 crore in public sector undertakings (PSUs), including banks, in the July–September quarter, while domestic institutional investors were net buyers of Rs 27,259 crore during the quarter. They bought the majority of shares from FIIs.
The FIIs sold shares worth Rs 8,375 crore of 31 companies and bought shares amounting to Rs 3,489 crore and this was revealed through data filed by 47 PSUs with stock exchanges. The calculation is based on a company’s average market price in Q2, as the exact date of share transaction by these investors could not be ascertained. The S&P BSE Sensex had slipped six per cent during the quarter, its sharpest quarterly decline since December 2011.
Oil and Natural Gas Corporation (ONGC), State Bank of India (SBI), GAIL, NTPC and Container Corporation of India were some of the frontline stocks sold. However, the FIIs bought equity shares of Bharat Petroleum Corporation, Bharat Electronics and Indian Oil Corporation.
That apart, FIIs, financial institutions, banks and insurance companies collectively sold equity shares aggregating Rs 1,312 crore in Coal India during Q2. Their holding at the end of September was 16.24 per cent, down from 16.77 per cent at the end of June.
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