FIIs on a shrinking paper trail

 Ironically, as FIIs pump more and more money into such stocks, free float equity decreases further. In the top 10 companies in which FIIs have the largest stakes, portfolio investors have almost exhausted the available free float, with little room for stepping up investments.

 FIIs have a significant shareholding in 38 most-traded and large cap companies. Their concentration in the top 15 companies amounts to as much as 83 per cent of their total holdings in 38 companies. Last year, this concentration was 80 per cent.

 While the FIIs have started scouting for other investment opportunities, the poor availability of good stocks with sufficient market capitalisation may limit the consistently high flows into the equity market during the last few months, analysts point out.

 On average, FIIs own 69 per cent of the 53 per cent free float available in the top 10 stocks.

 If you were to exclude Hindustan Lever and Reliance Industries from this list, the ownership level has reached 81 per cent of the 66 per cent free float available for FIIs.

 According to data on the