Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Special focus – Quarterly changes in Institutional ownership. Latest
data released for the June quarter indicates that both FIIs and DIIs have
marginally reduced their holdings of Indian equities – by 20 and 30 bps
respectively. Current FII holdings at 14.9% are however only marginally
short of the highs seen last quarter at 15.1%. DII holdings at 8.6% are 80
bps lower than the peak seen two years back.
Mixed sectoral trend…Over the last quarter, FII increased their
exposure to the domestic consumption theme while reducing holdings in
global sectors. DIIs reported a mixed trend, but increased their exposure
to Financials.
Portfolio positioning. FIIs continue to remain overweight Financials
but the extent of overwight has reduced over past few quarters. They are
also overweight Consumer Discretionary and Energy. They are
underweight IT Services, Industrials and Utilities. DIIs are currently
overweight Consumer staples & Utilties and underweight IT Services,
Financials and Consumer Discretionary.
J.P. Morgan portfolio stance. We remain overweight Financials,
Capital goods and Telecom, and Underweight on Consumption,
particularly Discretionary. We are Neutral on global sectors including
IT, Energy and Metals.
RBI Credit Policy review. The central bank acknowledged that
containing surging inflation was the key priority. Benchmark rates were
raised by 50 bps (vs. market expectations of a 25 bps). The Yield curve
flattened as a result, with a large part of the move focussed around the
extreme short end. Liquidity within the interbank system however
remains comfortable as indicated by the amount under daily LAF and the
overnight interbank rate.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Special focus – Quarterly changes in Institutional ownership. Latest
data released for the June quarter indicates that both FIIs and DIIs have
marginally reduced their holdings of Indian equities – by 20 and 30 bps
respectively. Current FII holdings at 14.9% are however only marginally
short of the highs seen last quarter at 15.1%. DII holdings at 8.6% are 80
bps lower than the peak seen two years back.
Mixed sectoral trend…Over the last quarter, FII increased their
exposure to the domestic consumption theme while reducing holdings in
global sectors. DIIs reported a mixed trend, but increased their exposure
to Financials.
Portfolio positioning. FIIs continue to remain overweight Financials
but the extent of overwight has reduced over past few quarters. They are
also overweight Consumer Discretionary and Energy. They are
underweight IT Services, Industrials and Utilities. DIIs are currently
overweight Consumer staples & Utilties and underweight IT Services,
Financials and Consumer Discretionary.
J.P. Morgan portfolio stance. We remain overweight Financials,
Capital goods and Telecom, and Underweight on Consumption,
particularly Discretionary. We are Neutral on global sectors including
IT, Energy and Metals.
RBI Credit Policy review. The central bank acknowledged that
containing surging inflation was the key priority. Benchmark rates were
raised by 50 bps (vs. market expectations of a 25 bps). The Yield curve
flattened as a result, with a large part of the move focussed around the
extreme short end. Liquidity within the interbank system however
remains comfortable as indicated by the amount under daily LAF and the
overnight interbank rate.
No comments:
Post a Comment