Top 10 stocks which fund managers bought & sold in October across large, mid & smallcap space

Benchmark indices might have remained volatile but fund managers but equity-oriented mutual funds attracted Rs 5,215 crore in October, making it the eighth consecutive monthly net infusion.

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However, the quantum of net inflows dropped from September, when it attracted Rs 8,677 crore, said a PTI report quoting data from the Association of Mutual Funds in India (Amfi).

Within the equity segment, almost all categories saw net inflows, except the value and equity-linked saving scheme (ELSS) categories in October, the report added.

Healthy inflows were observed in sectoral/thematic, Flexi Cap, Large Cap, Focus and Large & Mid Cap segments.

Mutual fund AUM as on 31st October 2021 was Rs 37.33 trillion, higher by 1.6 per cent from the last month. Nearly 27 lakh folios were added in October. Net inflow due to a combination of debt & equity schemes.

In October, mutual funds were seen adding a few large cap names - HCL Technologies, TCS and Wipro along with ICICI Lombard General & Axis Bank.

“With limited IPOs in October, Mutual funds deployment in issuances were only Rs 8.81bn. The IPO level participation is as follows - NYKAA (Rs 6.78bn) and Fino Payments (Rs 2.03bn),” Edelweiss said in a report.

“Mutual funds used the recent run-up in names like IRCTC, Tata Power Co, Mindtree and SRF as an opportunity to trim stake. These names were in phenomenal momentum because of potential MSCI entrant,” it said.

Monthly SIP contribution too reached an all-time high at Rs 10,518 crore during the period under review from Rs 10,351 crore in September.

"Since the markets have appreciated and rallied a lot and with valuations at substantial levels, we are witnessing individuals continue their MF exposure via SIP, which allows investors to get a benefit via law of averages during the entry point in equities," Pradeep Gupta, Co-Founder & Vice Chairman, Anand Rathi Group, said.

"I feel that for most retail investors, majority of equity exposure should be through MF. Better still if it is in the form of SIP because that gives predictability to MFs," he said.

We have collated a list of stocks from the ICICIdirect report in which fund managers bought and sold the most across large, mid, and smallcap space. Socks above Rs 50 crore holding were considered:

Largecap:

Fund managers across AMC raised stakes in stocks like Indus Towers Ltd, ICICI Lombard, HDFC AMC, HCL Technologies, Punjab National Bank, Wipro, and UPL.

Selling was seen in stocks like Bandhan Bank, Berger Paints, Marico, SAIL, GAIL India, IOC, Maruti Suzuki, and NMDC etc.

Midcap:

Fund managers across AMC raised stakes in stocks like JSW Energy, Aditya Birla Sun Life, Macrotech Developers, Indian Bank, and Escorts.

Selling was seen in IRCTC, Tata Power, Petronet LNG, Nippon Life India AMC, Tata Chemicals, Canara Bank, and MindTree etc..

Smallcaps:

Fund managers across AMC raised stakes in stocks like Deepak Fertilisers, The India Cements, Delta Corp, PSP Projects, and IFB Industries.

Selling was seen in JustDial, Indiabulls Housing Finance, Welspun Corp, Mahanagar Gas, and CAMS etc.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)