Mutual funds bought stocks worth Rs 45,400 crore in July, with State Bank of India leading the pack through a record investment of Rs 10,200 crore, making it the single largest purchase ahead of IT stocks, according to a report by Nuvama Institutional Equities.
According to ACE MF data, mutual funds held nearly 128.58 crore shares of State Bank of India (SBI) in their portfolios. SBI Mutual Fund and ICICI Prudential Mutual Fund led the holdings, with 28.76 crore and 17.08 crore shares valued at Rs 22,910 crore and Rs 13,607 crore, respectively.
These fund houses were followed by HDFC Mutual Fund, which had nearly 15.86 crore shares of SBI worth Rs 12,638 crore. Quant Mutual Fund added SBI to its portfolio with around 1.55 crore shares worth Rs 1238 crore. PPFAS Mutual Fund had 7.55 lakh shares worth Rs 60.15 crore.
The IT stocks - Infosys and TCS - together saw fresh flows of Rs 9,400 crore, followed by Reliance Industries and newly listed HDB Financial Services, which attracted Rs 3,900 crore each from mutual funds in July.
Apart from the State Bank of India, the other banks which received inflows were Axis Bank, Kotak Mahindra Bank, and ICICI Bank, which received over Rs 1,000 crore in the said time period, the Nuvama report said.
Recently listed Anthem Bio attracted mutual fund purchases worth Rs 2,700 crore in July, followed by HCL Technologies with inflows of Rs 2,600 crore. Bharat Electronics, Tech Mahindra, and Oberoi Realty each received Rs 1,300 crore, while Bajaj Finance saw inflows exceeding Rs 1,000 crore in July.
Mutual funds also trimmed their exposure in several stocks, with Interglobe Aviation and Eternal witnessing the largest selling by mutual funds of Rs 2,400 crore and Rs 1,700 crore, respectively. Some other top existing mutual funds include HDFC AMC, HDFC Bank, Sun Pharma, Grasim Industries, BSE, MCX, and Muthoot Finance.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
According to ACE MF data, mutual funds held nearly 128.58 crore shares of State Bank of India (SBI) in their portfolios. SBI Mutual Fund and ICICI Prudential Mutual Fund led the holdings, with 28.76 crore and 17.08 crore shares valued at Rs 22,910 crore and Rs 13,607 crore, respectively.
These fund houses were followed by HDFC Mutual Fund, which had nearly 15.86 crore shares of SBI worth Rs 12,638 crore. Quant Mutual Fund added SBI to its portfolio with around 1.55 crore shares worth Rs 1238 crore. PPFAS Mutual Fund had 7.55 lakh shares worth Rs 60.15 crore.
The IT stocks - Infosys and TCS - together saw fresh flows of Rs 9,400 crore, followed by Reliance Industries and newly listed HDB Financial Services, which attracted Rs 3,900 crore each from mutual funds in July.
Apart from the State Bank of India, the other banks which received inflows were Axis Bank, Kotak Mahindra Bank, and ICICI Bank, which received over Rs 1,000 crore in the said time period, the Nuvama report said.
Recently listed Anthem Bio attracted mutual fund purchases worth Rs 2,700 crore in July, followed by HCL Technologies with inflows of Rs 2,600 crore. Bharat Electronics, Tech Mahindra, and Oberoi Realty each received Rs 1,300 crore, while Bajaj Finance saw inflows exceeding Rs 1,000 crore in July.
Mutual funds also trimmed their exposure in several stocks, with Interglobe Aviation and Eternal witnessing the largest selling by mutual funds of Rs 2,400 crore and Rs 1,700 crore, respectively. Some other top existing mutual funds include HDFC AMC, HDFC Bank, Sun Pharma, Grasim Industries, BSE, MCX, and Muthoot Finance.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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