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Stock Analysis, IPO, Mutual Funds, Bonds & More

Top 20 stocks that mutual funds bought in October; do you own any?

Market sentiment was extremely bullish last month as BSE Sensex climbed 6% in October.

, ETMarkets.com|
Updated: Nov 22, 2017, 03.08 PM IST
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Fund managers bought shares of National Aluminium, Indian Hotels, Dewan Housing Finance Corporation and Oberoi Realty.
Fund managers bought shares of National Aluminium, Indian Hotels, Dewan Housing Finance Corporation and Oberoi Realty.
Couple of financial firms like Axis Bank, HDFC twins and YES Bank stood among top purchases of domestic fund managers in terms of market value last month in the largecap space.

They bought shares worth Rs 1,730 crore in Axis Bank in October, followed by Rs 1446 crore and Rs 1778 crore in HDFC and HDFC Bank. Mutual fund managers also bought shares in YES Bank worth of Rs 603 crore, according to the data provided by Morningstar India.

Market sentiment was extremely bullish last month as benchmark equity index BSE Sensex climbed 6 per cent in October. The index jumped 1,929 points to 33,213 on October 31 from 31,293 on September 29.

On the other hand, they reduced 4.4 per cent stake in country’s biggest lender State Bank of India and 2.90 per cent in IT major Infosys. They further sold shares worth of Rs 502 crore and Rs 382 crore in Coal India and ICICI Bank.

Petronet LNG, Vedanta, BPCL, Hindalco, Adani Ports and IndusInd Bank also got dumped by mutual fund houses in October.

In addition to this, they bought shares of SBI Life Insurance (Rs 941 crore), Bharti Airtel (Rs 808 crore), GAIL (Rs 680 crore), ITC (Rs 668 crore) and Sun Pharma (Rs 488 crore).

In the midcap and smallcap segments, Apollo Tyres emerged as their favourite with purchase amount of Rs 726 crore. It was followed by Bharat Financial Inclusion (Rs 681 crore), NLC India (Rs 648 crore), Tata Chemicals (Rs 478 crore), Cyient (Rs 420 crore) and PI Industries (Rs 332 crore).

Fund managers also bought shares of National Aluminium, Indian Hotels, Dewan Housing Finance Corporation and Oberoi Realty.

Morningstar data showed fund houses offloaded 60.3 per cent of their stake in Rain Industries, followed by IFB Industries (sold 41.2 per cent), Gujarat Narmada Valley Fertilizers (21.2 per cent) and NIIT Technolgies (12.4 per cent).

Among mutual top holdings, fund managers held Rs 43,660 crore, or 5.54 per cent, stake in HDFC Bank, followed by ICICI Bank (Rs 31,976 crore) and State Bank of India (Rs 24,861 crore).

Fund houses also held 3.15 per cent each in L&T and Infosys, 2.53 per cent stake in HDFC, 2.49 per cent in ITC and 2.39 per cent in Maruti Suzuki.

In the midcap and smallcap segments, they hold over 1 per cent of stake in Max Financial Services, Tata Chemicals and Divi’s Labs.

According to the Association of Mutual Funds in India (Amfi) data, equity funds received an inflow of Rs 2.86 lakh crore from November 2016 to October 2017. Prior to that, these funds had registered flows of Rs 1.5 lakh crore between October 2016 and December 2015.

Overall asset under management (AUM) of the industry climbed 32 per cent since November 2016, and the equity AUM grew 46 per cent after the note ban.

The asset base of the MF industry, comprising 42 players, reached an all-time high of Rs 21.41 lakh crore in October-end, while that of equity AUM was over Rs 6.32 lakh crore.

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