August Mutual Funds Data: Know which stocks and sectors AMCs bought/sold in previous month – Check Details

Mutual Funds Data: Public sector companies and new age firms have been favourites of Mutual Funds in August 2022. In the previous month asset management companies (AMCs) bought a spree of PSU stocks, mainly from energy sector along with Zomato, a Zee Business research report said. 

According to senior research analyst Varun Dubey, the Mutual Funds have acquired shares of Zomato (11.2 crore), NHPC (4.6 crore), PNB (4.1 crore), NTPC (4 crore), ONGC (3.7 crore) in the earlier month.” 

Most of these stocks have been buzzing lately and have also registered a breakout, according to a Zee Business report. 

On the contrary, the AMCs have dumped shares of IDFC First Bank (8.4 crore), Vodafone Idea (5.5 crore), Tata Steel (4.7 crore), Bharti Airtel (2.7 crore) and GAIL (2.9 crore) among others, Dubey also said in his report. 

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With respect to sectors, utilities, especially power, has witnessed maximum buying of 0.36 per cent in August, followed by telecom and media 0.31 per cent, while auto and ancillary as well as Oil and Gas stood at 0.27 and 0.21 per cent weightage, respectively. 

On the contrary, the mutual fund houses have reduced their stake in IT and healthcare by 0.59 and 0.24 per cent, respectively in August, Dubey noted. 

Net inflows into equity funds continued its downtrend for the third month in a row plunging to a 10-month low on the back of global volatility ahead of rising interest rates and inflation fears, Prashanth Tapse – Sr VP Research, Mehta Equities said in his comment on August MF data. 

“The lower flows would continue for a few more months despite falling crude oil prices, the rupee depreciation against dollar and uncertainty of global slowdown leading to some short of near-term challenges over the long-term view,” Tapse added. 

 The overall Indian assets under management (AUM) improved to Rs 39.34-lakh crore on the back of domestic disciplined investment led by retail investors (SIP) which stood at Rs 12,693 crore — an all-time high and largely up on mark-to-market gain, the market analyst said.