Monish Vora is a keen student of the markets and shares his observations through his clear and concise commentary.
Equity mutual funds turned net buyers for the first time in the last nine months in March 2021.
This was seen on the back of a correction in equity markets that started mid-February and led resurgence of flows into equity-oriented mutual funds.
Equity funds saw inflows of Rs 91.1 bn in March 2021.
The investment through systematic investment plan (SIP) rose to all-time high levels.
Let us take a look at which stocks mutual funds traded in the most during this period.
Indian mutual funds cut their holdings in key Nifty stocks in March.
From the large cap space, mutual funds trimmed their positions in GAIL India Ltd, ONGC Ltd, Hindalco Industries Ltd, Vedanta Ltd, and Adani Green Energy Ltd in March.
In the midcap space, TVS Motor Company Ltd, Vodafone Idea Ltd, LIC Housing Finance Ltd, and Amara Raja Batteries Ltd witnessed maximum selling.
Among smallcaps, the highest selling by equity mutual funds was seen in Mahindra Lifespace Developers Ltd, Ashiana Housing Ltd, IDFC Ltd, and Shilpa Medicare Ltd.
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On the other hand, the top bought large cap stocks in March included Yes Bank Ltd, SBI Cards and Payment Services Ltd, Havells India Ltd, HDFC Asset Management Company Ltd, and Godrej Consumer Products Ltd.
In the midcap space, the highest buying by equity mutual funds was seen in Wabco India Ltd, Max Healthcare Institute Ltd, Tata Communications Ltd, Granules India Ltd, and L&T Finance Holdings Ltd.
Among smallcaps, mutual funds made the highest purchases in Hathway Cable & Datacom Ltd, Varroc Engineering Ltd, Sterling and Wilson Solar Ltd, Welspun Corp Ltd, and IFB Industries Ltd in March.
Below is the list of top 10 mutual fund houses as per their equity asset under management (AUM) as on March 2021.
| Top Fund Houses | Equity AUM (Rs bn) |
|---|---|
| SBI Mutual Fund | 2,620.1 |
| HDFC Mutual Fund | 1,554.4 |
| ICICI Prudential Mutual Fund | 1,515.8 |
| Nippon India Mutual Fund | 1,139.5 |
| UTI Mutual Fund | 1,045.7 |
| Axis Mutual Fund | 1,003.8 |
| Kotak Mutual Fund | 918.5 |
| Aditya Birla SL Mutual Fund | 913.6 |
| Mirae Asset Mutual Fund | 633.6 |
| DSP Mutual Fund | 513.8 |
Now let's look at what the top three asset managers bought and sold in the month of March 2021.
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How the mutual fund buying and selling trend pans out in the month of April remains to be seen.
We will keep you updated on all the developments from this space.
Stay tuned.
Happy investing!
PS: The above piece relies on data from PersonalFN. PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.
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