Some of the big purchases by fund managers in July were UPL, Escorts Kubota, Shriram City Union Finance and Britannia. Among small-cap stocks, mutual funds bought Sapphire Foods, GMR Infra, Minda and Eureka Forbes among others.
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In July when the Nifty moved up by 8.7%, fund managers adopted a cautious and stock-specific approach while making fresh purchases cognizant of inflationary pressures and expected rise in interest rates in both domestic and global markets. With rainfall expected to be normal and the first couple of months seeing a 6% higher-thanlong period average rainfall, there are expectations that the rural economy will do well. This, fund managers believe, could drive rural consumption in the upcoming festival season.
Fund managers are also betting on select auto, auto ancillary, vehicle finance, agri solutions and health insurance space. Some of the big purchases by fund managers in July were UPL, Escorts Kubota,
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ET Bureau