ITC, HDFC Bank, Bandhan Bank, Suzlon, Aster DM Healthcare, and Crompton Greaves are among the stocks that mutual funds bought the most in the month of March 2024. On the other hand, State Bank of India, Jio Financial Services, Vodafone Idea, IREDA and NBCC India were among the stocks that fund houses sold the most during the month.
The inflows in the equity mutual funds declined by 16% in March to ₹22,633.15 crore from ₹26,865.78 crore in February, as investors pulled out money from smallcap schemes for the first time in the last two and a half years, data from the Association of Mutual Funds in India (AMFI) showed.
The mutual fund industry’s net assets under management (AUM) also declined by 2% to ₹53,40,194 crore at the end of March from ₹54.54 lakh crore as on February 29 this year.
Read here: Mutual Funds: Net AUM declines marginally to ₹53 lakh crore in March, shows AMFI data
While smallcap funds witnessed outflow of ₹94.2 crore, the first time since September 2021, midcap funds saw a 43% month-on-month (MoM) decline to ₹1,017.69 crore in March.
Among sectors, the industrials sector saw higher buying, followed by Staples, Financials, Telecom & Media, Auto & Ancillary, Metals & Mining and Discretionary. Mutual funds reduced holdings in IT, Building Materials and Others, as per a report by Phillip Capital.
Here are the top stocks that mutual funds bought and sold the most in March:
The top largecap buys of asset management companies (AMC) last month include ITC, HDFC Bank, REC, PFC and Bharat Electronics (BEL).
Fund houses sold SBI, Jio Financial, Bank of Baroda, Bharti Airtel and Indian Oil Corporation the most among largecap stocks, the Phillip Capital report showed.
Also Read: Smallcap funds see outflow for first time in 2.5 years
Samvardhana Motherson, SAIL, Suzlon Energy, Bandhan Bank and Motherson Sumi Wiring were the top five midcap stocks that mutual funds added the most.
On the contrary, Vodafone Idea, Ashok Leyland, NHPC, IREDA and Federal Bank were the top five midcap stocks sold the most by fund houses.
In the smallcap segment, mutual funds bought NLC, Aster DM Healthcare, Crompton Greaves, Piramal Pharma and Aditya Birla AMC the most, whole their top 5 selling included NMDC Steel, Hindustan Copper, Ujjivan Small Finance Bank, Manappuram Finance and NBCC India.
AMCs raised their exposure in Industrials sector by 23 bps MoM, increasing their weight to 8.6%, followed by Staples up 18 bps to 4.8%, Financials up 14 bps to 28.3%, Telecom & Media up 10 bps to 3.3% and Auto & Ancillary up 10 bps to 8.7%.
Mutual funds reduced holdings in IT by 76 bps MoM to 8.8%, Building Materials by 16 bps to 3.8% and Others by 8 bps to 1.3%.
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