The Indian markets got off to a shaky start in 2011 primarily on the back of heavy selling by foreign institutions (FII) as has been pointed out by leading broking firms. The outflow of FII money or "Hot Money", as it is popularly known as, was seen right from the onset of the new year. The FIIs sold stocks worth Rs 9,300 crore or USD 2 billion (approx) last month.

The relentless FII selling drove the benchmark Nifty down over 14% during the same period. India's year-to-date underperformance has made it one of the worst performing countries among the emerging market bunch.

FIIs guarded against fatal four-way 

For the FIIs, the bone of contention with regards to Indian markets is the rampant inflation, surging oil prices, high interest rates and mounting current account deficit. Brent crude trading near USD 100 a barrel has soured sentiment towards India who is a net importer of the commodity.

Datawatch puts the spotlight on India-listed companies where Foreign Institutional Investors (FIIs) hold more than 30% stake.

Data Analysis

Data suggests there are as many as 34 companies with FIIs holding greater than 30%. HDFC tops the list with 59.08% FIIs holding in the company. The stock is down 17% in last one month. IVRCL Infra with FIIs holding of 57% is the worst performer in the list in terms of price performance. Nearly 44% market cap of the company vanished in last one month. Out of 34 stocks 14 have recorded 52 week lows in last one month.