Call it bottom fishing or value buying. Individual investors have increased stakes in 15 out of 28 sensex companies according to BSE data. In 13 companies they pared their stakes. Latest shareholding data for Satyam Computers and ITC was not available. An analysis of sectoral movement by investors throws a mixed bag.
For instance, in banks, individuals (holding less than Rs 1 lakh of the nominal share capital of the company ) reduced stakes in SBI from 6.05% (for the quarter ended June 30) to 5.90% and HDFC Bank from 8.82% to 8.72%. However, in ICICI Bank they increased their holdings from 5.95% to 6.17%. Interestingly, even FIIs hiked their stakes in this bank from 36.44% to 38.85%.
In automobiles, M&M saw a drop in individuals holding to 7.89% from 8.37% and Maruti Suzuki recorded a fall from 2.57% to 2.54%. Investors turned bullish on Tata Motors where they enhanced their holdings to 10.59% from 10.40%.
Going forward, analysts believe that the stakes held by small investors in blue chips could increase as valuations are becoming "affordable" in the current situation. "It is easy to understand that FIIs have been selling. Now slowly and steadily that supply has been coming to other side. That is why you are seeing rise in individual shareholding ," says Sandeep Shenoy of PINC Research.
In the technology sector, Infosys saw a marginal drop while TCS and Wipro saw a marginal gain. Ditto in telecom where investors switched off in Bharti Airtel while they signed on into Reliance Communications .
In the case of Airtel the drop was marginal at 0.01% at 0.73% while in R-Com it was up to 9.21% from the earlier 8.86%.
No comments:
Post a Comment