Pvt banks, tech stocks lead MF portfolios
Mutual funds increase weightage in banking, technology, metals, consumer durables sectors in Aug: Report
New Delhi: In August, mutual funds (MFs) showed an interest in technology, metals, consumer durables, and chemicals leading to a month on month rise in their weights, according to a report by Motilal Oswal Financial Services.
Conversely, private banks, PSU banks, oil and gas, consumer, and NBFCs saw a MoM moderation in weights.
Private banking sector (19.2$) was the top sector holding for MFs in August, followed by technology (9.6%), auto sector (8.2%), capital goods (7.3%), and consumer (6.8%). Media, textiles, chemicals and technology were the top sectors to witness an increase in value MoM, the report said. The highest MoM net buying in Nifty-50 stocks in August was observed in Britannia (+17%), UPL (+11%), Hero MotoCorp (+9.8%), Grasim Inds (+8.7%), and Wipro (+8.6%). Among the Nifty Midcap-100, MFs were net buyers in 51$ of the stocks.
The highest MoM net buying was seen in Union Bank, Coforge, Aditya Birla Capital, L&T Finance Holdings, and Petronet LNG. In the Nifty Smallcap-100 snapshot, MFs were net buyers in 67 of the stocks. The highest MoM net buying was witnessed in Piramal Pharma, Suzlon Energy, BSE, MRPL, and Jubilant Ingrevia, the report said.
Fourteen of the top-25 schemes close higher MoM. Among the top-25 schemes by AUM, the following reported the highest MoM increase: Nippon India Small Cap Fund (+4.7$ MoM change in NAV), Nippon India Growth Fund (+4.1$ MoM), HDFC Small Cap Fund (+3.4$ MoM), Kotak Emerging Equity Fund (+3.4$ MoM), and Nippon India Multi Cap Fund (+3$ MoM).
