On 30 March, foreign institutional ownership for 308 firms on the BSE 500 index, which contribute around 90% of India’s market capitalization, slumped to 12.3% MUMBAI : Foreign portfolio investors (FPIs) have reduced their exposure to India’s biggest listed companies significantly in January-March, bringing the foreign institutional ownership in Indian companies to at least 25-quarter, or six-year, low.
On 30 March, foreign institutional ownership for 308 firms on the BSE 500 index, which contribute around 90% of India’s market capitalization, slumped to 12.3%.
The sell-off by FPIs, because of steep valuations and poor macros, intensified following the covid-19 outbreak, slashing stakes in FMCG (fast-moving consumer goods) and pharma