FPIs reduce stake in financial sector, the worst performer in March quarter

In HDFC Bank, HDFC, ICICI Bank, SBI, Axis Bank and Bandhan Bank, FPIs reduced their holdings in the range of 100 bps to 300 bps.

Foreign institutional investors (FPIs) have cut their stake in majority of large-cap financials including banks, housing finance and non-banking finance companies (NBFCs) by up to 4 percentage points during January-March quarter (Q4FY20).

In HDFC Bank, Housing Development Finance Corporation (HDFC), ICICI Bank, State Bank of India (SBI), Axis Bank and Bandhan Bank, FPIs reduced their holdings in the range of 100 basis points (bps) to 300 bps during the quarter. In Jammu & Kashmir Bank, their stake was declined by 402 bps at 10.4 per cent at the end of March quarter. The 100 basis points is equivalent to