Following the lead of Asian Indices, the Instanex FII Index closed 0.57% at 201.90, slightly lower than its level at 1500 hrs. DIIs seem to have suffered due to a sharp fall in L&T that fell 4.14% to Rs 609.55. The Instanex Top 15 portfolio was also strong, up 0.55%, indicating emergence of strong hands in the last hour of trade. Nifty was up 0.45% and Sensex was up 0.28%.
Of the 15 components of the Index, 11 are up and four are down. The main gainers are HDFC (+2.53%; weight 12.19%), Sun Pharma (+2.22%; weight 2.09%) and TCS (+1.62%; weight 2.77%) while the main losers are L&T (-4.14%; weight 2.56%) and BHEL (-3.15%; weight 5.81%).
Updated at 1054 hrs
FIIs seem to have begun their trading day with buy orders. At 1000 hrs, the Instanex FII index is up 0.89% to 202.55, with Nifty close behind, up 0.87%, followed by Sensex and the Instanex Retail 15 portfolio that are up 0.81%. DIIs seem to be quite, with the Instanex DII 15 portfolio up just 0.73%.
Once again big money seems to be absent, and India’s most valuable companies, represented by the Instanex Top 15 portfolio, are up only 0.48%.
Of the 15 components of the index, 11 have gained and four are down. The main gainers are ICICI Bank (+2.77%; weight 7.34%), HDFC (+1.53%; weight 12.03%) and HDFC Bank (+1.34%; weight 5.21%) while the main losers are BHEL (-0.80%; weight 5.93%) and HUL (-0.45%; weight 3.92%).
ABOUT THE INSTANEX FII INDEX
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The INSTANEX FII INDEX™ tracks the price performance of the portfolio of listed Indian equity shares owned by foreign institutional investors (FIIs). The Index comprises the top 15 companies by value of FII holdings subject to (a) Stock future listed in India, (b) Restriction of company weight to 20%, industry to 30% and principal shareholder to 30%. Index weights are based on adjusted market value of holdings. The Index is adjusted for all corporate actions, including bonus, split and rights. Reviews are conducted quarterly and companies are deleted from the Index if they are not among the top 20 FII holdings. The base date is September 30, 2003 (=100).
The Index has been developed by and is owned by Instanex Capital Consultants Pvt. Ltd., Mumbai, India.