Mutual fund houses reduce exposure to NBFC stocks after panic sell-off in September
Updated : October 26, 2018 06:30 AM IST
Equity mutual funds, including Equity Linked Savings Scheme (ELSS) gained a net inflow of Rs 11,172 crore as compared to Rs 8,375 crore in August 2018, according to AMFI.
In a report published by Prabhudas Lilladher, a brokerage firm, NBFC sector witnessed net selling pressure of about 831 crores in the month of September 2018, making it the top sector in the sell list of mutual funds followed by insurance companies.
In the mid cap stocks, DHFL, which lost more than 50 percent in trade with the stock hitting a 19-month low of Rs 274.75 on September 21, saw a decline of 62 percent of quantity sold in September.
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