Foreign institutional investor (FII) holding in the Nifty touched a lifetime high of 23% in the June quarter, shows an Axis Capital report. However, a bulk of this rise was in just six sectors BFSI, Engineering, Oil, Metals, Auto and Power the report adds. Hero MotoCorp saw the sharpest rise in FII stake from 30.81% in the previous quarter to 34.31% in the June quarter data collated from Capitaline show. Among other scrips, FIIs raised their stake in Kotak Mahindra Bank by 3.41 percentage points (ppt), Tata Steel (2.79 ppt), Tata Power (2.63 ppt), M&M (2.32 ppt) and HDFC (1.65 ppt). As per the Axis Capital report, FII interest is coming back in Hindustan Unilever and PNB, as overseas investors raised their stake in these scrips after three quarters of selling. FII holding in Hindustan Unilever and PNB, as on June quarter, stood at 14.58% and 17.37%, respectively. Meanwhile, Bhel, Cairn and Infosys saw FII holding come down after three quarters of buying. YTD, FIIs have bought $12.08 billion worth of equities, while domestic institutional investors (DIIs) have sold $5.45 billion. On Wednesday, FIIs sold $63.61 million worth of equities, while DIIs were net buyers of $85.94 million.
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