In a first since 2010, domestic investors overtake FPIs as shareholders

After the massive sell-off since October, foreign portfolio investors (FPIs) are no longer the biggest non-promoter-shareholders in top Indian companies. 

This has happened for the first time in over a decade. “At 25.6 per cent ownership of India's largest 75 companies, domestic investors are now larger holders than FPIs for the first time since 2010,” said Morgan Stanley strategists Ridham Desai, Sheela Rathi and Nayant Parekh in a note. 

Since 2014, FPI ownership in top-75 companies has declined by 232 basis points to 24.8 per cent. 

On the other hand, domestic mutual funds (MFs) have increased their ownership by a massive