ETMarkets Smart Talk: FII ownership at 16% is probably the lowest level of ownership, but trend is changing: Ajit Banerjee

“FII ownership at 16% is probably the lowest level of ownership. At the peak, we had 24% of the market owned by FIIs,” says Ajit Banerjee, Chief Investment Officer of Shriram Life Insurance.
In an interview with ETMarkets, Banerjee said: “FIIs reversed their selling trend and collectively purchased equities amounting to ₹2,061 crore in the current month of June,” Edited excerpts:
June has been a volatile month for the Indian market, but bulls managed to keep the momentum going and pushed benchmark indices to fresh record highs. What is fuelling optimism?
government formation, which developed on the date of declaration of election results, was primarily due to the results coming much in contrast from the previous day’s exit poll results.

However, this element of uncertainty was short-lived as clarity emerged on the continuity of the previous government and its policies on steering the economy towards making India the third largest economy of the world by year 2030.

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