MFs go on shopping spree, eye banking and IT stocks

"Mutual funds were buying shares of select private bank shares, information technology, chemical and consumption stocks," said a broker.

Himadri Buch

March 13, 2020 / 19:09 IST

26 Aug, 2025 12:21

Volume

Todays L/H

Mutual funds went ahead and added more to their cart after the stock market posted major losses this week.

"Mutual funds were buying shares of select private bank shares, information technology, chemical and consumption stocks," said a broker.

Another broker said that fund houses were buying shares of HDFC Bank, Kotak Mahindra Bank, Bata India and Relaxo.

When market reopened after circuit cooling period on March 13, Nifty staged a smart recovery from lows to close 433 points higher from previous close, retaking mount 10k, at 10,023. Sensex closed at 34,103, higher by 1,325 points from previous day's close.

"At the current levels, market valuations are very attractive and there is some sense of panic in the market due to the very rapid fall we have experienced in the indices in very short period of time," said George Heber Joseph, CEO & CIO, ITI MF.

COVID-19 Vaccine

Frequently Asked Questions

How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

Show