Foreign investors pulled $53 billion from Indian equities since late 2024, yet selective buying emerged in Q4. State Bank of India topped the list with FII holdings surging Rs 9,319 crore to Rs 1,02,279 crore, despite flat stock performance. Power Grid Corporation and NTPC also attracted significant foreign capital, with holdings climbing Rs 8,057 crore and Rs 7,566 crore respectively. These PSU stocks gained 11.90% and 12.47% during the quarter. Vedanta, ONGC, and Tata Steel rounded out the top performers, each recording Rs 6 billion plus inflows. National Aluminium Company surged 22.84%, the strongest gainer among the ten. This selective FII rotation toward large-cap PSUs and established industrials signals renewed confidence in India's blue-chip stocks despite the broader capital outflow trend that has weighed on MSCI India returns.
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