अFunda Observatory

Smart-money tracker: who bought and sold Indian stocks in the quarter ended Dec 2023

Based on shareholding patterns filed by 1542 of 1545 companies (100%) · Q3 FY24 · updated 9 Oct 2026 · Methodology

Descriptive summary of filed shareholding patterns. Not investment advice; ₹ flows are estimates.

FII ownership, market-cap weighted
17.5%
+0.6 pp q/q
DII ownership
12.4%
+0.7 pp q/q
Promoter ownership
57.5%
−0.4 pp q/q
Estimated net FII flow
≈ +₹2,44,700 cr
+0.8 pp flow component (est.)

Excluding financial companies: FII 15.4% (+0.7 pp q/q), DII 11.4% (+0.7 pp q/q). Banks carry a large share of FII value, so the headline is dominated by them.

Sector flow board

FIIs added exposure in 13 of 19 sectors, led by Retail Trade (+4.9 pp, ≈ +₹31,600 cr) and Consumer Services (+4.6 pp). DIIs added exposure in 13 of 19 sectors, led by Health Services (+5.6 pp, ≈ +₹17,200 cr) and Transportation (+2.6 pp).

Flow component: change in the sector's market-cap-weighted ownership holding the quarter-start weights fixed, so a heavily held stock rallying does not move it. Same companies in both quarters. Sectors with fewer than 5 companies are not shown.

Promoter clusters

Promoters raising holding

No sector met the cluster rule (at least 3 companies, 15% of the sector and twice the opposite side).

Promoters lowering holding

Sector# loweringMedian changeNames
Electronic Technology11 of 40−3.0 ppKAYNES, SURANASOL, NETWEB +8 more
Commercial Services7 of 26−2.7 ppADROITINFO, REPRO, VERANDA +4 more
Retail Trade7 of 29−3.6 ppETHOSLTD, HEADSUP, EMIL +4 more
Health Services4 of 17−3.0 ppMETROPOLIS, YATHARTH, NH +1 more
Technology Services18 of 79−3.2 ppBCG, SECURKLOUD, AFFLE +15 more
Industrial Services14 of 64−3.0 ppBFUTILITIE, SWSOLAR, GRINFRA +11 more
Distribution Services3 of 18−1.0 ppREDINGTON, AEGISLOG, THEJO

Largest increases in promoter share count

Largest decreases in promoter share count

Government stake changes

Companies with a government shareholding; changes are reported as disinvestment or purchase rather than promoter selling.

Major ownership changes

Promoter holding moved by 10 pp or more (offer for sale, merger or open offer is likely). Excluded from the clusters above.

Retail rush

Shareholder count up at least 15% while FII+DII holding fell 0.5 pp or more, among companies above ₹500 cr with at least 5,000 holders. This is a descriptive screen: crowding does not necessarily precede declines. "Public" is a proxy for retail; it also includes HNIs and corporates.

No company met the screen this quarter.

Institutions in, retail out (2)
CompanyShareholdersFII+DIIPublic3M price (context)
GUJARAT STATE PETRONET LIMITED (GSPL)1.2 lakh (−6%)+1.4 pp−1.3 pp+8.4%
RAJESH EXPORTS LIMITED (RAJESHEXPO)24,814 (−7%)+0.9 pp−1.0 pp−26.8%

Persistence: FII flow, last 8 quarters

SectorJun 2020Sep 2020Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Commercial Services———————+2.0
Communications———————+2.8
Consumer Durables———————−0.2
Consumer Non-Durables———————−0.3
Consumer Services———————+4.6
Distribution Services———————+2.1
Electronic Technology———————+0.8
Energy Minerals———————+1.2
Finance———————+0.9
Health Services———————+3.2
Health Technology———————−1.2
Industrial Services———————+0.8
Non-Energy Minerals———————+0.6
Process Industries———————−1.2
Producer Manufacturing———————+0.6
Retail Trade———————+4.9
Technology Services———————+2.6
Transportation———————−1.4
Utilities———————0.0

FII flow component in percentage points per quarter; amber is a reduction, cyan an increase. A number beside a sector counts consecutive quarters moving the same way (3 or more).

Explore FII, DII and promoter holding in the observatory →

This page summarises publicly filed shareholding patterns. It describes what changed; it is not investment advice or a recommendation to buy, sell or hold any security. Changes in institutional or promoter holdings do not reliably predict future returns. ₹ flow figures are estimates derived from percentage changes and average market value; actual transactions may differ materially. ApnaFunda is not a SEBI-registered research analyst or investment adviser. Data may contain errors or omissions; verify with exchange filings before acting.