+FIIs sold Rs 5,000 cr of PSU stocks in Q2

Foreign institutional investors (FIIs) sold equity shares worth nearly Rs 5,000 crore in public sector undertakings (PSUs), including banks, in the July–September quarter.

Shareholding pattern data filed by 47 PSUs with stock exchanges reveal FIIs offloaded a net Rs 4,886 crore in equities during the quarter, second (Q2) of the financial year. They sold shares worth Rs 8,375 crore of 31 companies and bought shares amounting to Rs 3,489 crore.

The calculation is based on a company’s average market price in Q2, as the exact date of share transaction by these investors could not be ascertained. The S&P BSE Sensex had slipped six per cent during the quarter, its sharpest quarterly decline since December 2011.

Oil and Natural Gas Corporation (ONGC), State Bank of India (SBI), GAIL, NTPC and Container Corporation of India were some of the frontline stocks sold. However, the FIIs bought equity shares of Bharat Petroleum Corporation, Bharat Electronics and Indian Oil Corporation.