New Delhi, Jan. 30 -- Despite massive selling by Foreign Institutional Investor (FIIs), its share remained unchanged in the third quarter (Q3) of the fiscal, according to a research report by Axis Capital.

The FII stake in the BSE500 index remained unchanged at 18 per cent, with FIIs showing a preference for non-Nifty stocks, as per the report.

The report added, the FII share of BSE500 remain unchanged (QoQ) in the December quarter, despite net selling of USD 11 bn. FII holdings increased 30 bp in non-Nifty stocks to 14.3 per cent, highest in six years but fell 30 bp (QoQ) to 22.9 per cent for Nifty stocks.

In Q3, FII selling was concentrated in energy, financials, auto, and consumer sector however they bought IT services shares. FIIs ...