India’s biggest stocks are undergoing a sweeping ownership handover. Foreign institutional investors (FIIs) cut stakes in 36 of the 50 Nifty companies in the year ended June, while domestic institutions raised holdings in 41, aggressively occupying the space vacated by overseas capital.
The shift pushed DII ownership of the Nifty 50 to an all-time high of 25.9%, up 2.1 percentage points from a year earlier, according to a Motilal Oswal Financial Services report. FII ownership dropped 2.4 percentage points to 22.7%, leaving domestic institutions with a 3.2-point lead.