Mutual funds continued to face redemption pressure for the second consecutive month in August as investors booked profit given the rally in the equity market in the last few months. It saw a net outflow of Rs 4,000 crore from equity and equity-related schemes in August against the outflow of Rs 2,489 crore in July, according to the official data. Inflow via systematic investment plans (SIP) remained healthy but has been consistently declining for the past several months. SIP inflows stood at Rs 7,791 crore in August against Rs 7,830 crore logged in the previous month. Here are the stocks that fund houses bought and sold:
Eight stocks that funds made new investments in are ADF Foods, Associated Alcohols & Breweries, Fairchem Organics, Fiem Industries, Kovai Medical Center & Hospital, MSTC, Technocraft Industries (India) and Mindspace Business Parks REIT, as highlighted by Dolat Capital.
The four stocks they completely exited in August are Macpower CNC Machines, NDR Auto Components, Novartis India, and RSWM, according to Dolat Capital.
Among Nifty50 stocks, maximum buying by MFs was seen in Axis Bank, Coal India, Dr Reddy's Labs, HDFC, ICICI Bank, Infosys, ITC, SBI, Sun Pharma, TCS and Tech Mahindra.
And among Nifty stocks, selling was seen in Adani Port, Asian Paints, BPCL, Bharti Infratel, Eicher Motors, GAIL, HCL Technologies, HDFC Life, HUL, IOC, Kotak Mahindra Bank, Maruti Suzuki, Reliance Industries, Tata Motors, and Titan Company.
In the midcap space, Alkem Labs, Apollo Hospitals Enterprises, Cummins India, GSPL, M&M Financial, Mphasis, NALCO and Tata Power witnessed maximum buying by mutual funds.
Selling in the midcap segment was seen in Aarti Industries, Adani Gas, Apollo Tyres, Emami, Exide Industries, Jubilant Foodworks, Mahanagar Gas, Syngene International, and Tata Consumer Products, Dolat Capital added.
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