The month of May saw a notable change in the allocation of funds by mutual fund managers as the asset under management climbed to Rs 25.94 lakh crore.
Weight of domestic cyclicals increased 160bp to a 10-month high of 62.9 percent. Telecom, real estate and PSU banks saw a rise in value on an MoM basis in May.
On the other hand, flows into media, healthcare, metals, technology, auto, and consumer moderated in May.
Mutual funds were net buyers in 58 percent of the Nifty stocks in May as compared to 44 percent in April.
ICICIdirect lists top 10 largecaps, midcap, and smallcaps that saw buying by fund managers in May.
Among largecaps, Vodafone Idea, DLF, Bharti Airtel, HDFC Life Insurance and Piramal Enterprises witnessed highest buying during May 2019.
In midcaps, stocks like Godrej Industries, Dish TV, Page Industries, Escorts, and Tata Global Beverages witnessed buying during May 2019.
ICICIdirect in its report also listed top 10 largecaps, midcap and smallcaps that witnessed selling by fund managers in May.
Largecap stocks, which saw selling by AMCs were Havells India, ICICI Lombard, Bandhan Bank, UPL and Wipro.
Midcap stocks, which saw selling by AMCs were MindTree, Graphite, Avanti Feeds, TV18 Broadcast and Adani Power.
Small cap stocks, which saw selling by AMCs were Jain Irrigation, Max India, Tata Elxsi, Wockhardt and Ceat Ltd.
Note: The above report is for information only and not buy or sell ideas.
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