Equity mutual funds witnessed outflow for the second consecutive month in August with Rs 4,000 crore moving out following an outflow of Rs 2,480 crore in July, AMFI data showed. Except for equity-linked saving schemes (ELSS), focused fund and sectoral categories, all the other equity categories witnessed net outflow.
ICICI Direct in a recent report pointed out that few investors seem to be using the recent rally to book profit/reduce equity exposure as gross inflows remain stable while gross redemption increases in the last few months
Meanwhile, SIP inflows moderated and remained at Rs 7,792 crore in August as compared to Rs 7,831 crore in July.
Overall, mutual funds net bought Rs 9,339.02 crore worth of equities in August, while foreign investors remained buyers for a fifth straight month, with inflows at Rs 37,846.54 crore.
The data further showed that in the equity segment, large-cap was the worst hit with an outflow of Rs 1,553 crore, followed by multi-cap ( Rs 1,157 crore), value fund (Rs 780 crore) and mid-cap (Rs 603 crore).
In the report, the brokerage mentioned the top 30 stocks bought and sold by mutual funds in August.
In the large-cap
space, the highest buying was seen in Bandhan Bank, DLF, Piramal Enterprises, Wipro, Info Edge, Pidilite Industries, SBI Cards, Bosch, Axis Bank and Dr Reddy's.
However, stocks like Marico, Havells India, Vedanta, Tata Consumer Products, Siemens, GIC, HDFC AMC, Hind Zinc, Grasim, and Colgate-Palmolive saw the highest selling in August, the ICICI Direct report noted.
Among midcaps, Hindustan Aeronautics, M&M Financial, Alembic Pharmaceuticals, Phoenix Mills and Shriram Transport Finance Company witnessed the highest buying from mutual funds in August. Other top buys also included Zee, Minda Industries, Oracle, Prestige Estate, and Ashok Leyland.
On the other hand, the top ten biggest sells were seen in GMR Infrastructure, Vodafone Idea, Future Retail, Adani Enterprises, Manappuram Finance, Bata, Amara Raja, Jubilant Food, ICICI Securities, and Syngene, added the report.
Vodafone Idea, Future Retail and Syngene International were also in the in top 10 selling list in July.
Finally, in the smallcap space, Matrimony.Com, Rain Industries, Sudarshan Chemical Industries, Nocil, Ceat, Avanti Feeds, GNVFC, CCL Products and Mayur Uniquoters were the top 10 buys as per ICICI Direct.
Top sells in August, as per the brokerage were: Aarti Drugs, NIIT, Somany Home Innovation, Intellect Design Arena, MRPL, Polyplex, Future Supply, GMM Pfaudler, Chennai Petroleum, and Srikalahasthi Pipes.