MF holdings in NSE cos rise to all-time high
Rose from 8.73% on Sep 30, 2023, to an all-time high of 8.81% on Dec 31, 2023; The growth was driven by strong net inflows of Rs58,198 cr during the quarter
New Delhi: The share of domestic Mutual Funds (MFs) in companies listed on NSE rose to an all-time high of 8.81 per cent as on December 31, 2023, from 8.73 per cent as on September 30, 2023, powered by strong net inflows of Rs58,198 crore during the quarter, as per Primeinfobase, an initiative of PRIME Database Group.
Meanwhile, Life Insurance Corporation of India (LIC), India’s largest institutional investor, saw its share (across 277 companies where its holding is more than 1 per cent) declining to an all-time low of 3.64 per cent as on December 31, 2023 from 3.73 per cent as on September 30, 2023.
According to Pranav Haldea, Managing Director, PRIME Database Group, this was primarily on account of profit booking to take advantage of bullish markets. Insurance companies, as a whole, sold a net of Rs5,622 crore during the quarter, a major part of which is attributable to LIC since LIC commands a lion’s share of investments in equities by insurance companies (at least 68 per cent share or Rs 13.02 lakh crore).
