FPIs bet on domestic high-momentum, high-beta plays; 5 stocks they are bullish on
Best Advisory Company | Equity Market Tips
The
September quarter was quite good for domestic equities as far as
foreign inflows were concerned, even though most emerging markets (EMs)
were nervous about the big events, including the US presidential
election and a looming Fed rate hike.
Now
data for the quarter showed foreign portfolio investors bought stocks
that showed high price momentum, high beta, low-to-medium dividend yield
and medium financial leverage.They also bought low-leverage and
medium-to-high dividend yield stocks in a limited measure, a report from
ICICI Securities showed.
DIIs,
on the other hand, sold high-momentum and high-beta stocks and
selectively bought low-leverage and medium-to-high dividend yield
stocks, the study on BSE100 stocks revealed.
Momentum
stocks are stocks which are most persistence in their relative
performance, measured by their-risk adjusted price momentum.
Overall, FPIs sold stocks in the export-oriented pharma and IT sectors as well as telecom and consumer discretionary segments.
They were seen buying into domestic economy-focused themes such as financials, auto, metals, energy and materials.
They were seen buying into domestic economy-focused themes such as financials, auto, metals, energy and materials.
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