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HSBC mutual fund bought cement and information technology stocks while they sold oil stocks in January.
The top buys by HSBC mutual fund in January were ACC, Reliance and
State Bank of India. The fund was bullish on the cement pack as it bought huge quantities of UltraTech Cement and ACC. The fund also bought information technology stocks like HCL Infosystems, NIIT Technologies, Datamatics Tech, Satyam, HCL Technologies, Infosys, Hughes Software Systems, NIIT and iGATE Global Solutions.
It introduced MTNL, Bharati Shipyard, Bank Of Baroda, Kesoram Industries and Infosys into its portfolio. In the metal pack it bought Hindalco, JISCO, Tisco and Sterlite Industries. It also was a big buyer in petrochemical major Reliance last month.
The top sells by the fund in January were Mahindra and Mahindra, Mastek and Zee Telefilms. It exited counters like Asahi India, Canara Bank, ONGC, Ranbaxy Laboratories and BHEL. It reduced it exposure to the oil stocks like ONGC, BPCL, HPCL and Chennai Petroleum. The fund also pared its exposure to media major, Zee last month.
Given below are the stocks traded by the fund in January
May 23 2013, 10:43
- in MARKET OUTLOOK
May 23 2013, 09:33
- in Technicals