Foreign portfolio investment (FPI) declined to $291 billion in March quarter from $304 billion in December quarter. In percentage terms, FPI holdings in BSE 200 companies came down to 24.5% against 24.8% in the three months to December 2015. Heavy selling was seen in stocks in banking, pharmaceuticals and automobiles sectors by FPIs. On the other hand, domestic institutional investors increased their stakes in sectors such as banking, utilities and pharmaceuticals and their holdings in BSE 200 companies increased to 11.1% in the March quarter from 10.9% at the end of the previous quarter.
