Meltdown singes FIIs the most

Foreign institutional investors (FIIs) are the largest losers in the current market fall. The aggregate market value of equity shares in which FIIs hold stakes has eroded by Rs 23,426 crore in the last 12 trading days. FIIs have made record investment in the equity markets in the current calendar year.

This finding is based on data culled from the shareholding patterns of 1,700 companies for the quarter ended Sept 2005 and the assumption that there has not been any change in their stakes till date.

These 1,700 firms account for 90 per cent of the total market capitalisation of the Bombay Stock Exchange (BSE). FIIs' total wealth in the Indian equity market has declined from Rs 3,13,969 crore on September 30 to Rs 2,90,543 crore on Wednesday. The BSE Sensex in the last 12 trading days declined 663.42 points "" from 8634.48 to 7971.06.

FIIs, which bought net of $8.59 billion equity shares in the first nine months of calendar year 2005, lost around $5.37 billion market wealth in the current month.

The total market wealth of retail investors eroded by Rs 18,289 crore and that of banks and financial institutions, including mutual funds, by Rs 10,387 crore in the last 12 trading days.

The aggregate wealth of public declined from Rs 2,27,808 crore to Rs 2,09,519 crore and that of banks and financials institutions to Rs 1,07,570 crore (Rs 1,17,958 crore).

FIIs' market value in eight stocks "" ICICI Bank, Bharti Tele-Ventures, ONGC, Reliance Industries, HDFC, ITC, Ranbaxy Laboratories and Tata Steel ""depreciated more than Rs 500 crore. In 34 firms, their market wealth declined in the range of Rs 100-Rs 500 crore. ICICI Bank witnessed a major value erosion for the FIIs.
 

IN THE RED
	Holding in %		M-Cap loss (Rs cr)
	FIIs	Public	FIIs	Public
ICICI Bank	45.48	5.85	-3403.40	-437.77
Bharti Tele-Ventures	25.96	0.86	-1789.93	-59.30
ONGC	8.79	2.60	-1428.24	-422.46
HDFC	64.56	12.70	-1031.73	-202.96
ITC	15.33	13.02	-923.45	-784.30
Tata Steel	20.24	26.78	-695.91	-920.77
Ranbaxy Laboratories	21.17	17.00	-633.12	-508.41
NTPC	6.80	2.27	-459.77	-153.48

The total market value of the 45.48 per cent shares held by the FIIs in the private bank has eroded by Rs 3,403 crore. In Bharti Tele-Ventures, the FII value erosion was to the tune of Rs 1,790 crore, followed by ONGC (Rs 1,428 crore), RIL (Rs 1,032 crore), HDFC (Rs 1,032 crore) and ITC (Rs 923 crore). Shareholders' total wealth in 36 stocks declined by more than Rs 100 crore in each of the scrips.

The list includes Tata Steel (Rs 921 crore), Reliance Industries (Rs 785 crore), ITC (Rs 784 crore), Ranbaxy Laboratories (Rs 508 crore) and Hindustan Lever (Rs 507 crore).