The Nifty 50 index has been surpassing milestones, with the recent surge attributed to a strong economy and positive outlooks from global brokerages and rating agencies, leading to optimistic investor sentiment. In a parallel trend, the BSE's Sensex also achieved unprecedented levels in April, exceeding the significant 75,000 milestone for the first time, showcasing the prevailing buoyant market conditions.
The Nifty Smallcap 100, in particular, has been on a winning streak, hitting a new high of 16,822 points on April 24 with a notable 0.80 per cent gain, marking four consecutive days of ascent. This positive trajectory has captured the attention of market observers, who are witnessing noticeable adjustments in holdings among promoters, mutual funds, foreign institutional investors, and domestic institutional investors, as revealed by IDBI Capital's recent data analysis.
Promoters have strategically maneuvered their holdings, increasing stakes in key players like Grasim Industries and Bajaj Auto, while decreasing positions for companies such as Bharti Airtel, Tata Consumer, M&M, TCS, and Tata Steel. Mutual funds have also showcased a bullish sentiment, enhancing investments in companies like HDFC Bank, IndusInd Bank, ITC, and HDFC Life, while adjusting positions in NTPC, Tata Motors, LTImindtree, ICICI Bank, and BPCL. Foreign investors, on the other hand, showed a contrasting trend in April, pulling out significant amounts from Indian equities after previously expressing confidence in India's growth prospects by investing heavily in February and March.
FPIs have adjusted their holdings by increasing exposure in some companies like BPCL, Bharti Airtel, ICICI Bank, NTPC, and M&M, while reducing stakes in others such as HDFC Bank, ITC, KMB, IndusInd Bank, and Asian Paints. Meanwhile, domestic investors have demonstrated resilience by augmenting stakes in companies like HDFC Bank, Indusind Bank, KMB, ITC, and Eicher Motors, albeit making adjustments in holdings for NTPC, Tata Motors, BPCL, ICICI Bank, and Sun Pharma. Overall, shareholders across different categories are actively adapting their portfolios in response to changing market dynamics and emerging opportunities.