On the other hand, domestic institutional investors were mostly sellers in the consumer sector.
Of the 16 FMCG firms, 12 companies saw an increase in their respective foreign institutional investors holding in three months ended September 2013 over the year-ago period, while the remaining four witnessed a decline in FIIs stake, according to a report by A C Choksi Share Brokers.
Moreover, FIIs have increased their stake by more than one percentage points in nine firms.
Experts believe that FIIs have been showing interest in the Indian FMCG companies due to their defensive appeal and besides, these stocks have been performing well on good earnings.
In the quarter ended September 2013, Zydus Wellness witnessed the maximum stake increase in FII holding, while Hindustan Unilever Ltd saw the highest drop in FII stake.
Interestingly, FIIs hold 42.35 per cent ownership in United Spirits at the end of September quarter, which is highest among the FMCG companies.
FIIs holding in Zydus Wellness climbed by 5.73 percentage points from the year-ago period to 7.91 per cent at the end of September 2013, while they hiked their stake in Bajaj Corp by 3.8 percentage points to 13.28 per cent and also raised their holding by 3.23 percentage points in Britannia to 19.11
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