Mutual funds’ exposure to banks hits 3-month low in September1 min read 21 Oct 2018, 11:32 AM IST
Overall deployment of equity funds in bank stocks stood at ₹1,88,620 crore at the end of September as compared to ₹2,10,251 crore in the preceding month
New Delhi: Mutual funds’ holding of banking stocks declined by over ₹ 21,600 crore to ₹ 1.88 lakh crore in September, driven by the correction in equity markets. Overall deployment of equity funds in bank stocks stood at ₹ 1,88,620 crore at the end of September as compared to ₹ 2,10,251 crore in the preceding month, as per data available from the Securities and Exchange Board of India (Sebi). This was the lowest level of deployment since June, when equity funds’ exposure to bank stocks stood at ₹ 1.87 lakh crore. In May, it was at ₹ 1.89 lakh crore. In percentage terms, exposure to banking stocks was at 19.78 per cent of equity AUM last month as against 20.21 per cent in August.