At least 75% of the top 20 foreign portfolio investors (FPIs) saw their disclosed India portfolio values increase between 10% and 37% in the June quarter, outpacing gains from the Sensex and Nifty in the period, a Prime Database study that used portfolio values at the end of the period showed.
To be sure, in comparison with the dizzying returns from South Korea and Taiwan, Asia’s hot favourite semiconductor trades through the period, Mumbai may have yielded relatively circumspect gains. Yet, the standout performances through a period of extreme volatility in oil prices and surging global shipping rates underscored India’s growing reputation as a stock picker’s market, where portfolio returns can diverge sharply from those generated by the headline indices.
MFs cut PSU bank exposure, raise bets on IT, auto & pharma in July
The boost in portfolio values could be because of a mix of stock gains and fresh buying, although analysts said identifying winners would have contributed to a chunk of the increase.
The Sensex gained nearly 6.3% during the quarter, while the Nifty advanced 6.8%. India’s broader market indices rose even faster, with the BSE Mid-cap 150 and BSE SmallCap 250 gaining 17% and 24.5%, respectively.
In comparison, China gained 22.2%, Taiwan jumped 46.3%, and South Korea fetched 64.24% in dollar terms. The MSCI Emerging Markets Index, which holds all these countries, gained 23%.
East Asian indices have lost significantly since, as trades tied to the fortunes of artificial intelligence (AI) have been unwound partially
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price