What stocks SBI Mutual Fund bought and sold last month1 min read . Updated: 14 Aug 2020, 07:18 AM IST
SBI Mutual Fund bought 1.80 crore shares of NHPC and over 1 crore shares of City Union Bank in July.
Equity mutual funds registered negative inflows in July after muted inflows in the earlier month June. Equity funds witnessed net outflows of ₹2,480 crore in July for the first time in over four years on account of profit booking. Some analysts also believe the ongoing pandemic covid19 and abnormal market movements for the negative growth. While investors are muddled on where to invest, here's a look at where and how the biggest fund house of the country, SBI Mutual Fund invested in the last month.
SBI Mutual Fund manages total assets worth ₹3,64,916 crore as on June 30. The AMC jumped from the third spot at the end of December last year to become the biggest mutual fund house in January.
Top five shares bought by SBI Mutual Fund
SBI Mutual Fund bought 1.80 crore shares of NHPC and over 1 crore shares of City Union Bank, shows data from Dolat Capital. The largest AMC also bought, HDFC Life Insurance (86.62 lakh shares), Sun Pharma (65.53 lakh shares) and GE T&D India (65 lakh shares).
Top five shares sold by SBI Mutual Fund
SBI Mutual Fund sold 2.9 crore shares of Vedanta. The stock was in news recently as Moody's has assigned B3 rating with negative outlook to Vedanta's USD notes earlier this week on Tuesday.
SBI Mutual Fund also sold 1.31 crore shares of Emami, SBI (91.74 lakh shares), Mahindra & Mahindra Financial Services (84.93 lakh shares) and Axis Bank (66.43 lakh shares).
SBI ETF Nifty 50 is the largets equity mutual fund scheme managing assets over ₹73 crore. SBI ETF Sensex is the third largest equity mutual fund with assets worth ₹29.