Among the stocks comprising Bombay Stock Exchange's Sensitive Index and National Stock Exchange's S&P Nifty, HDFC has the highest P-Notes holding in value, 14.2 per cent, followed by ICICI Bank's 9.1 per cent.

Next in line are Mahindra & Mahindra with 8.5 per cent, Tata Steel [Get Quote] (8.1 per cent), Satyam [Get Quote] Computer (7.9 per cent), Bharti Airtel [Get Quote] (5.8 per cent), ACC (4.8 per cent), Reliance Energy [Get Quote] and Ranbaxy [Get Quote] (2.7 per cent each), State Bank of India [Get Quote] (2.5 per cent) and Grasim [Get Quote] (2 per cent).

Two public sector giants, Steel Authority of India (1.6 per cent) and Bharat Heavy Electricals Ltd [Get Quote] (1.3 per cent), bring up the rear.

FII holding in Sensex and Nifty stocks is worth to Rs 55,173 crore (Rs 551.73 billion) - 20.27 per cent of the total FII holding and 4.91 per cent of the total market capitalisation of the Sensex companies.

Interestingly, FIIs seem to be holding less than 1 per cent through P-notes in Reliance Industries [Get Quote], which has the largest market capitalisaiton of all companies in the country.

FII holdings through P-notes, as of on Wednesday, stands at Rs 86,660 crore (Rs 866.60 billion), accounting for 24.4 per cent of the total market value of FIIs holding.

This is based on data covering 69 companies in which FII holding through P-notes accounts for more than 1 per cent of the total share capital. FII holding in these companies is worth Rs 355,572 crore (Rs 3555.72 billion), which is 24.11 per cent of the total market capitalisation of the 69 companies.