1 / 10Cash levels for India’s mutual funds as a percentage of the overall Assets Under Management remained nearly the same in February, compared to the month of January, as per a recent analysis from brokerage firm JM Financial.
2 / 10Pharma & Healthcare, e-Commerce, Consumer Durables, Capital Goods, and Agrochemicals & Petrochemicals are the sectors where Mutual Funds were overweight in comparison to the BSE 200 index, while they were underweight on private banks, oil & gas, Metals & mining, Consumer Staples, and IT services.
3 / 10Private Banks were ones where Mutual Funds did the most amount of buying in February. As per JM Financial, the sector received flows worth ₹16,412 crore. HDFC Bank, ICICI Bank, Kotak Mahindra Bank, IndusInd Bank and Bandhan Bank were among the top buys, while selling took place in shares of Axis Bank, IDFC First Bank, and Karur Vysya Bank.
4 / 10IT Services has seen flows worth ₹12,741 crore in February from Mutual Funds, with buying emerging in shares of Infosys, HCLTech, Coforge, TCS and Fractal Analytics, while selling took place in Wipro, Tech Mahindra and Tata Elxsi, according to JM Financial.
5 / 10e-Commerce as a sector has seen inflows worth ₹8,108 crore from Mutual Funds in February, with buying coming in Eternal, PB Fintech, Paytm, Swiggy and Groww, while selling came in Nykaa, Delhivery and IndiaMART.
6 / 10Among the sectors where mutual funds sold in February, include PSU Banks, which saw outflows of close to ₹9,000 crore last month as per JM Financial. SBI, Union Bank, Punjab & Sind Bank saw the most selling, while Canara Bank, PNB and Bank of Baroda saw buying.
7 / 10NBFCs also saw selling worth ₹6,127 crore last month, led by Bajaj Finance, Jio Finance and BSE, while buying emerged in shares of MCX and 360 ONE WAM.
8 / 10Other sectors where selling was seen in February include Auto & Ancillaries (-₹3,342 crore), Metals & Mining (-₹2,807 crore), and Engineering & Construction (-₹2,694 crore).
9 / 10Within the Nifty 50, JM Financial noted that Mutual Funds were buyers in shares of HDFC Bank (₹7,232 crore), ICICI Bank (₹5,649 crore), Infosys (₹5,614 crore), Eternal (₹3,287 crore) and Kotak Bank (₹3,100 crore).
10 / 10Among those Nifty 50 stocks that saw selling at the hands of the Mutual Funds, include SBI (-₹8,914 crore), L&T (-₹2,541 crore), Bajaj Finance (-₹2,215 crore), Power Grid (-₹2,211 crore), and Bharat Electronics (-₹1,526 crore).
