New Delhi, Nov. 3 -- Foreign investors continued to pare their holdings in select defensive sectors such as energy and consumer staples, while increasing exposure to cyclical and growth-oriented segments like transportation, telecom, and healthcare, according to a report by Elara Securities.

The report stated "FII ownership continues to moderate for most sectors, reflecting a cautious stance". It also added that this reflects a cautious stance amid global volatility and profit-booking after sustained inflows in previous quarters.

Sectors such as Energy (-9.3 per cent YoY), Utilities (-10.1 per cent), and Consumer Staples (-7.3 per cent) saw a decline in foreign interest, indicating a rotation away from defensives and high-valuation play...