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Top 20 stocks fund managers picked with both hands in September

In the largecap space, MFs bought select banking and finance, auto, IT and airlines stocks.

ETMarkets.com|
Updated: Oct 30, 2017, 12.11 PM IST
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DIIs purchased shares worth over Rs 21,000 crore (net) last month and stood net buyers in equities in 19 trading sessions.
DIIs purchased shares worth over Rs 21,000 crore (net) last month and stood net buyers in equities in 19 trading sessions.
At a time when Indian equity markets were falling in September, the fall was largely cushioned by bullish domestic institutional investors who were on a major buying spree.

So, what did they buy last month?

In the largecap space, mutual funds bought select banking and finance, auto, IT and airlines stocks.

The top 10 largecap stocks, which mutual funds bought in September based on market value included Infosys, InterGlobe Aviation, ITC, HDFC Bank, ICICI Bank, Bajaj Finance, State Bank of India, Gail (India), HDFC and Hero MotoCorp.

Top 20 stocks fund managers picked with both hands in September

In the midcap and smallcap space, mutual fund bought shares of Rs 590 crore in Max Financial Services, followed by Bharat Financial Inclusion, Cyient, Dewan Housing Finance, Tata Chemicals, Vardhman Textiles, Just Dial, The South Indian Bank, Tata Global Beverages and Engineers India.

Top 20 stocks fund managers picked with both hands in September

DIIs purchased shares worth over Rs 21,000 crore (net) last month and stood net buyers in equities in 19 trading sessions and net sellers in 2 sessions.

However, foreign portfolio investors (FPIs) stood net sellers for a second consecutive month in September and sold shares worth over Rs 11,392 crore. FPIs net outflows stood at Rs 12,770 crore in August 2017. However, they have pumped in Rs 1,426 crore in October so far when benchmark equity indices are hovering around their record levels.

Mutual funds’ assets under management (AUM) grew at a healthy 29.13 per cent at Rs 20.40 lakh crore in September, up from Rs 15.8 trillion a year ago.

The 30-share BSE Sensex slipped over 1 per cent to 31283.72 on September 29 from 31,730 on August 31. The index scaled fresh closing high of 33,147 on Thursday, up 104 points against the previous close of 33,042.

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