Why FIIs didnít sell these 9 stocks when they were selling other stocks
Updated on 17 Jan 2017
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Data available with depository NSDL showed FIIs have offloaded shares worth Rs 34,535 crore between October 2016 and mid-January 2017 but they haven’t sold few stocks.

The October-December period remained tough for the domestic equity market after Prime Minister Narendra Modi surprisingly banned high-value currency notes of Rs 500 and Rs 1,000 on November 8 while a surprise verdict in the US presidential election and fears of further rate hike by the US Federal Reserve kept market sentiments down.

But there are few stocks where FII didn’t sell those stocks but infact increased the holdings.

Which are those stocks?

These stocks had actually been beaten down quite a bit in the market downturn that began on September

There was a difference in their selloff this December quarter: they carefully left out nine stocks from real estate, consumer durables, capital goods and information technology sectors. Rather they bought share on these counters!

Foreign portfolio investors grabbed the chance to increase stakes in some of those beaten-down names even as they sold on other counters.

So, stocks like DLF, Prestige Estate and Oberoi Realty from the real estate space actually saw FII holdings go up during the October-December period. That even when the BSE Realty index declined 16.42 per cent.

FIIs increased holding in DLF from 17.02 per cent on September 30, 2016 to 17.38 per cent on December 31, 2016; and in Prestige Estates and Oberoi Realty from 24.64 per cent and 24.23 per cent to 24.68 per cent and 25.35 per cent, respectively. The BSE Realty index had lost 7.82 per cent last year.

In the IT space, FIIs remained bullish on Oracle Financial Services and Software, as they hiked their holding from 13.95 per cent at the end of September quarter to 14.20 per cent at the end of December. Since the beginning of 2016, they have been positive on Oracle, having increased their stake from 13.49 per cent at the end of the March quarter to 13.94 per cent at the end of June.

Among other beaten-down sectors such as capital goods and consumer durables, FIIs increased bets on Blue Star from 9.63 per cent at the end of Q2 to 10.31 per cent at the end of Q3. They also increased their holdings in Crompton Greaves (from 18.38 per cent to 19.16 per cent), Whirlpool India (from 6.41 per cent to 6.51 per cent) and Bharat Electronics (from 4.22 per cent to 4.25 per cent).

FIIs also increased stake in Thermax from 15.99 per cent in Q2 to 16.41 per cent in Q3. Ever since the demonetisation drive, the share price of Bharat Electronics and Oracle Financial Services have climbed 16 per cent and 0.85 per cent, respectively.