HDFC Ltd saw a delivery volume of over 63 lakh shares on Friday, 27th November, largely bought by Long Only Funds, mainly from Hedge Funds. This delivery volume is seen almost two and half times of last 2 week average and now seen got pegged, as Long only Funds buy a stock as passive investor, with many years or decades view. Infact, Friday was the last day for MSCI Global index re-balancing, being used by global funds for benchmarking global equities portfolio.
On Friday, huge volume were seen on NSE in last 30 minutes, as can be seen from FII buy of Rs. 74,742 crore and selling of Rs. 67,029 crore, with net FII buy of Rs. 7,713 crore. This was largely seen in HDFC Ltd. TCS, Infy, HUL, Bharti Airtel, RIL, ITC, ICICI Bank, Kotak Bank. But keep bullish view on first 4-5 stocks, while last 4 ones are seen giving caution ahead. Even Derivative had seen buying and selling by FIIs of Rs. 2,52,068 crores on each side, which means F&O position got shifted to cash segment.
In nutshell, quality has moved from Hedge Funds to Long Only Funds, which indicates bullish India view, while wild selling by hedge Funds may not be seen in many of these stocks. Keep positive view on India, inspite of all negative noise to be herad from Media on weak backward Macro data.