Equity mutual funds witnessed an outflow of Rs 9,253 crore for the seventh consecutive month in January followed by a decline in equity markets during the month. The moderation in domestic MFs is a result of profit booking and portfolio rebalancing amid markets touching new highs, as per analysts.
Mutual funds have consistently been net sellers since June last year. Overall, the mutual fund industry witnessed a net outflow of Rs 35,586 crore across all segments during the period under review, compared to Rs 2,968 crore inflow seen in December on investment from hybrid and other schemes.
In a report, ICICI Direct mentioned the top 30 stocks bought and sold by mutual funds in October.
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In the large-cap space, the highest buying was seen in Punjab National Bank, Piramal Enterprises, SBI Cards, Bajaj Holdings, and HAL. Asian Paints, Twch Mahindra, Tata Steel, Adani Green and Colgate Palmolive also witnessed massive inflows.
However, stocks like Bandhan Bank, Godrej Consumer, Abbott India, HDFC AMC, and Powergrid saw the highest selling in December, the ICICI Direct report noted.
Among midcaps, SAIL, Jubilant Pharmova, Polycab India, Vodafone Idea, and L&T Finance witnessed the highest buying from mutual funds in December. Other top buys also included Canara Bank, Godrej Industries, LIC Housing, Suven Pharma and IIFL Wealth.
On the other hand, the highest-selling was seen in BHEL, AstraZeneca Pharma, Castrol India, Mahanagar Gas, Indiamart, Alembic Pharma, ICICI Securities, Tata Power, Escorts and Shriram Transport added the report.
Finally, in the smallcap space, Indiabulls Real Estate, Kirloskar Oil, Astec Lifesciences, Sudarshan Chemicals, and EID Parry were the top buys, as per ICICI Direct.
Schneider Electric, Burger King, Lakshmi Machine, Route Mobile, and Sequent Scientific were sold the most.
Meanwhile, the contribution of systematic investment plans (SIPs) also declined 4.7 percent, MoM, in January to Rs 8,020 crore.
(Edited by : Abhishek Jha)
First Published: IST