Frequently buy and sell stocks by Domestic Mutual Funds

Frequently buy and sell stocks by Domestic Mutual Funds

Domestic Mutual Funds: At the end of February 2021, the majority of investors have sold equity mutual funds worth Rs. 4,534 crores. However, the move was moderate as compared to the selling worth Rs. 9,253 crores in January.

According to the reports, in January, the Indian market has pivotal ahead of Union Budget 2021. After the Budget, the NSE benchmark Nifty has breached the coveted 15,000-mark. Although, the market has witnessed some selling in the month of February. At the end of Feb, the NIFTY ended near 14,500-mark.

Further, Investors have capitalized on the market rally to book profits. They also rebalance the portfolio as markets continue to achieve new high levels. It leads to a reduction in domestic mutual fund flows.

As per the source, Equity Assets Under Management of domestic mutual funds recorded new highest up to 7.90% to Rs. 10 lakhs crores MoM.

On basis of Month-on-Month, the Mutual Fund Industry’s AUM raised nearly 3.70% to Rs. 31.60 lakhs crores in February 2021. It significantly weighed by equity funds to Rs. 73,100 crores, liquid funds Rs. 28,100 crores. Moreover, other exchange-traded funds Rs. 17,100 crores and balanced funds Rs. 16,200 crores.

According to the source, in February 2021, the total equity value of the top 20 AMCs increased by 7.70% MoM and 24.90% on a YoY basis. Meanwhile, the Nifty witnessed a rise of 6.60% Month-on-Month basis.

3 Domestic MFs:

SBI Mutual Fund

India’s largest Mutual Fund house, SBI has an equity AUM of Rs. 2,62,700 crores. On an MoM basis, it has increased its stake in SBI up to 0.60 PP, Reliance Industries 0.40 PP, HDFC Bank 0.30 PP, CICI bank nearly 0.30 PP and Axis Bank 0.10 PP. Further, SBI MF has reduced stake in TCS, Infosys, and Bharti Airtel nearly 0.50 PP, 0.30 and 0.20 PP, respectively.

HDFC Mutual  Fund

As per the source, HDFC MF’s equity assets under management at Rs. 1,57,700 crores.

The fund house increased stake in SBI 0.80 PP, NTPC0.40 PP. Coal India 0.30 PP, Reliance Industries 0.10 PP. On the other hand, the fund house has reduced stake in ICICI bank up to 0.60 PP, Infosys 0.40 PP, L&T 0.20 PP, and ITC 0.20 PP.

ICICI Prudential Mutual Fund

ICICI Prudential Mutual Fund equity AUM Rs. 1,57,600 crores. It has raised a stake in the State Bank of India 0.70 PP, NTPC 0.50 PP, ICICI Bank 0.40 PP, HDFC Bank 0.20 PP, Axis Bank, 0.20 PP, and Reliance Industries 0.20 PP. Moreover, it has reduced its stake in Bharti Airtel by about 0.70 PP, Infosys 0.40 PP, ITC 0.30 PP, and Sun Pharma 0.20 PP.