Foreign institutional investors (FIIs) cut an estimated Rs 99,101 crore from stakes in 10 Indian companies in the June quarter, concentrating almost half of the selling in Reliance Industries and HDFC Bank. Yet the retreat failed to break most of the targets: eight stocks gained, led by Bajaj Finance's 25% jump, exposing a sharp disconnect between foreign positioning and price momentum.
Only Infosys, down 20%, and Reliance, off 4%, declined during the quarter. The other eight rose even as FII share counts fell, including Eternal's 16% advance, Maruti Suzuki India's 15% gain and HDFC Bank's 9% climb.
