Small & midcap buzzers: FIIs, DIIs raised stake in five stocks consistently in 2018

In the third quarter of FY19, foreign institutional investors (FIIs) have been net sellers in the Indian equity market.

Out of the 425 BSE companies that have made public their shareholding data, 256 have reported FIIs to be sellers and only 169 companies have seen FIIs to be net buyers, Narnolia Securities said in a report.

“The net selling by FIIs had been on the backdrop of volatile crude price and depreciating rupee. The strengthening dollar and rising US yields also aided the cause. DIIs (domestic institutional investors), on the other hand, have increased stakes in 263 companies and decreased stakes in 172 companies in Q3 2019,” the report said.

Meanwhile, foreign investors raised their stake consistently in as many as five companies mostly from the small & midcap space, which are — HOEC, Mangalore Refinery & Petrochemicals, Minda Corporation, NHPC and Sundaram-Clayton.

Source:https://www.moneycontrol.com/news/business/markets/small-midcap-buzzers-fiis-diis-raised-stake-in-five-stocks-consistently-in-2018-3536691.html

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