FIIs buy in Jan-March; sell in April: Morgan Stanley
“Carriage fee is now a well-regulated issue and it should be transparent. We will intervene if required but we won’t relook at the recommendations,” he said in an interview to NDTV.
Foreign institutional investor (FII) stock ownership of India's top 75 companies rose to 20.4 per cent in the Jan-March quarter, from 19.5 per cent in the previous quarter, according to Morgan Stanley.
FIIs appear to have been overweight in financials, followed by consumer discretionary and telecoms, Morgan Stanley says. Their biggest underweight positions were in materials, industrials, and utilities, the U.S. bank adds.
The Sensex and the Nifty hit their 2012 peak on February 22nd, but have fallen 6 per cent since then as of Monday's close after a tough March marked by the government's proposed taxation for foreign investors.
FIIs have bought a net of Rs 43,951 crore in Indian equities in the Jan-March quarter, according to regulator SEBI and National Stock Exchange data, but have sold Rs 629 crore in April.
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