Infosys was hot pick among Mutual Funds in February; ICICI Bank, SBI, HDFC Bank also remained among favourites

Fundamentally strong shares in mid, small and large cap segments were the top preferences of Mutual Funds in February, according to Edelweiss Alternative Research report. 

Mutual Funds investment on at least a dozen companies' stocks went up significantly in February. Infosys topped the charts with maximum buying by MFs which bought shares worth Rs 3028 crore in February. 

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It was followed by Reliance Industries where shares worth Rs 2377 crore were bought, this report suggested. 

India's top three banks HDFC Bank, ICICI Bank and SBI were among the favourites in the large cap segment for the MF houses. In value terms, shares worth Rs 1151 crore, Rs 2006 crore and Rs 1235 crore respectively were added in various Mutual Fund Schemes during the month, this report added. 

From the mid-cap category, the newly listed Vedant Fashions - owner of flagship Manyavar brand – saw buying interest from Mutual Funds in February. Shares worth Rs 1,535 crore were bought. 

From the broader markets, Motherson Sumi, Zee Entertainment, Lupin, DLF, Ashok Leyland, Godrej Consumer, HAL, Max Financial and Mphasis also saw high traction among MFs. Each witnessed buyiing between Rs 300-600 crore, it said. 

On the contrary, Mutual Funds also booked profit in large and mid-cap stocks. TCS witnessedstrong selling sentiment among AMCs, with net change of Rs 923 crore in February, followed by other mid-cap stocks like Vedanta Industries, Apollo Hospitals, Excorts, Tata Power. 

The benchmark indices – Sensex and Nifty50 – slipped between 4-5 per cent in February. The first half of the month was mainly impacted by weak global sentiments. The Russia-Ukraine crisis pushed the markets further during the last week of the month.