FPIs go big on stocks of financials, mutual funds on energy and IT sectors

Foreign portfolio investors (FPIs) added positions in stocks of financials, and reduced their exposure to the energy sector, an analysis of December 2018 quarter shareholding data by Morgan Stanley shows. Mutual funds (MFs), on the other hand, increased their allocation to information technology (IT) and energy stocks and pruned stake in consumer staples. FPIs upped stake in 28 companies, while reducing holdings in 44 in the Morgan Stanley top 75 universe during the quarter. On the other hand, MFs upped their holdings in 49 stocks but pared stake in 25. FPIs were seen aggressively buying stakes in eight stocks, including