Midcap Mania! Value of FII holding in midcap stocks soar by Rs 1.8 lakh crore in a quarter
BSE Sensex rally 13% in a span of 5 months and scale to all-time highs in July. But a closer look suggested that FII dollars chased midcap stocks much more than the large cap stocks.
In 5 months, the S&P BSE Midcap index has gained a whopping 29%, thanks to the steady rise in the holdings of FIIs.
The value of FII holding in stocks that are part of the BSE Midcap index increased by a sharp Rs 1.8 lakh crore sequentially in the quarter ended June, data analysed by ETMarkets showed.
On the contrary, the value of their holding in smallcap stocks declined sequentially by over Rs 1,200 crore.
Big Gainers
REC was one of the best performing stocks in the midcap space, as the stock turned a multibagger in just 5 months.
FIIs have raised their holding in REC for two consecutive quarters.
As of June end, they held 21.9% stake in the PSU company.
The top 4 performers in the midcap space belong to the public sector space. Following REC is Indian Railway Finance Corporation, SJVN, and Power Finance Corporation, gaining 78-86% since April.
In Power Finance Corporation, FII holding increased by 100 bps to 17.49% as of June end, Trendlyne data showed.
As many as 100 stocks in the BSE Midcap index have given double-digit returns of up to 86% in a span of five months.
L&T Finance Holdings, JSW Energy, Vodafone Idea, Piramal Enterprises, Godrej Properties, Lupin, Glenmark Pharmaceuticals, Bharat Heavy Electricals, Adani Power, Supreme Industries are some of the prominent names, gaining 50-77% since April.
Within the midcap space, pharmaceutical and healthcare stocks were at the forefront of the rally.
Shareholding data showed that in both Lupin and Glenmark Pharmaceuticals, FII holding increased sequentially in the June quarter.
What’s
