At 1300 hrs, Indian markets have turned weak. The Instanex FII index is now down 0.18% (+1.30% at 1200 hrs) to 213.76, indicating a reduction in FII buying. Indian domestic institutional investors (DIIs) seem to have turned quiet, with the Instanex DII 15 portfolio up just 0.06% (+1.73% at 1200 hrs).
India’s broad-based benchmark, Sensex is down 0.04% from up 1.80% an hour earlier and Nifty is lower by 0.32% (-1.46% at 1200 hrs). The other Instanex Ownership indices are mixed – the Instanex Retail 15 portfolio is up 0.19%, the Instanex Top 15 portfolio is down 0.64% and the Instanex Promoter 15 portfolio is down 0.96%. Asian indices have also become weak with Hang Seng down 1.63%, Straits Times down 1.36% and SET Composite 0.53% lower.
Of the 15 components of the Instanex FII index, nine are down while six are up. The main losers are ONGC (-3.18%; weight 4.49%), Bharti Airtel (-2.98%; weight 12.11%) and NTPC (-2.86%; weight 2.94%) while the main gainers are Reliance Ind (+2.58%; weight 18.03%) and L&T (+1.45%; weight 2.45%).
Updated at 1230 hrs
At 1200 noon, Indian markets have gained further on domestic institutional investor (DII) buying. The Instanex FII index is now up 1.30% (+0.61% at 1100 hrs) to 216.91, underperforming the Instanex DII 15 portfolio that is up 1.73% (+0.91% at 1100 hrs).
India’s broad-based benchmark, Sensex is up 1.80% from 0.96% an hour earlier and Nifty is higher by 1.46% (+0.60% at 1100 hrs).
The other Instanex Ownership indices are also up – the Instanex Retail 15 portfolio is up 1.66%, the Instanex Top 15 portfolio is up 0.88% and the Instanex Promoter 15 portfolio is up 0.64%.
Asian indices are mixed with Taiwan Weighted that closed up 1.99% and Jakarta Composite up 0.67% while Hang Seng is lower by 0.82%.
Of the 15 components of the Instanex FII index, 12 are up while three are down. The main gainers are Reliance Ind (+4.36%; weight 18.07%), L&T (+2.99%; weight 2.45%) and ITC (+2.77%; weight 4.61%) while the main losers are ONGC (-2.08%; weight 4.47%) and NTPC (-1.68%; weight 2.93%).
Updated at 1050 hrs
Domestic institutional investors seem to have begun with buy orders and FIIs seem to be quiet.
At 1000 hrs, the Instanex DII 15 Portfolio is up 0.37%, outperforming the Instanex FII Index which is up 0.10% to 214.35. Sensex is higher by 0.28% and Nifty is up 0.23%. The other Instanex Ownership indices are mixed – the Instanex Retail 15 portfolio is up 0.32%, the Instanex Top 15 portfolio is up just 0.01% and the Instanex Promoter is down 0.19%.
Asian markets are also mixed - Taiwan Weighted is up 1.91%, Jakarta Composite is up 0.74% and SET Composite is up 0.13% while Hang Seng is down 0.53% and Straits Times is down 0.43%.
Of the 15 components of the Index, 11 have gained while four are down. The main gainers are Sun Pharma (+2.25%; weight 2.07%), ITC (+2.06%; weight 4.63%) and Reliance Ind (+1.37%; weight 17.76%) while the main losers are HDFC (-2.52%; weight 12.62%) and NTPC (-1.76%; weight 2.96%).
ABOUT THE INSTANEX FII INDEX
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.
