Punjab National Bank, SBI Life Insurance Company, and Indus Towers had been the 3 best big-cap buys by Mutual Funds in the month of May, information sourced by ICICI Direct showed. Meanwhile, Hindustan Zinc, Britannia Industries, and Colgate Palmolive had been the most sold big-cap stocks in the earlier month. The mutual fund market saw net inflows of Rs 10,500 crore in May — highest considering the fact that March 2020 — as stock markets resumed rally and inched close to all-time highs. The assets below management of domestic equity funds enhanced 7.7% on-month to Rs 11.1 lakh crore in the course of the month.
Most bought stocks
Punjab National Bank was the most bought big-cap stock by mutual funds in May. The quantity of shares of the lender held by mutual funds enhanced 88% amongst April and May. This was followed by a 40% enhance in SBI Life Insurance stocks and a 21% enhance in Indus Towers.
Among Midcap stocks, Zee Entertainment Enterprises was bought the most as AMC enhanced their holding in the firm by 60%. Zee was followed by Jubilant Pharmova, and Godrej Industries. Meanwhile, TCNS Clothing Co, TV18 Broadcast, and Magma Fincorp had been the best smallcap buys.
Most sold stocks
Fund homes sold Hindustan Zinc stocks to reduce their stock holding in the business by 20.5%. The quantity of Britannia Industries’ shares held by mutual funds decreased by 12% in May and that of Colgate Palmolive dropped by 11.8%. Among midcap stocks, GMR Infrastructure, IIFL Wealth Management, and JSW Energy had been the best stocks sold in the course of the earlier month.
Sectoral allocation
Mutual funds enhanced exposure to PSU banks to a 15-month higher in May. The weight of PSU Banks reached 3.4%, an enhance of 30 basis points from the earlier month and an enhance of 120 basis points from the year-ago period. “As a result, the sector — which was in the thirteenth position a year ago — climbed to the ninth position in the allocation of mutual funds,” brokerage firm Motilal Oswal stated in a report.
Other sectors exactly where fund managers enhanced weights incorporate oil & gas, automobiles, capital goods, insurance coverage, and private banks. Meanwhile, healthcare, metals, customer, technologies, telecom, chemical compounds, customer durables, and the cement sector reported a month-on-month decline in weights. At the finish of May, Private Banks continue to dominate sectoral allocations with 18% weightage, followed by Technology with 11% weight, Healthcare with 7.6%, NBFCs with 7.4%, and oil and gas with 7.1% weightage.
SBI AMC best buys
-Tata Power Company quantity of shares held enhanced by 702%
-Ashok Leyland quantity of shares held enhanced by 686%
-Container Corporation Of India quantity of shares held enhanced by 590%
HDFC Mutual Fund
-Zee Entertainment Enterprises quantity of shares held enhanced by 159%
-Tata Power Company quantity of shares held enhanced by 81%
-Bajaj Auto quantity of shares held enhanced by 60%
ICICI Prudential AMC
-Coromandel International quantity of shares held enhanced by 882%
-Hero MotoCorp quantity of shares held enhanced by 405%
-Punjab National Bank quantity of shares held enhanced by 224%
Aditya Birla Sunlife
-VIP Industries quantity of shares held enhanced by 595%
-Vedanta quantity of shares held enhanced by 334%
-Alkem Laboratories quantity of shares held enhanced by 216%