As the S&P BSE Sensex touched 53,000 levels recently, equity fund managers churned their portfolio, adding stocks from the banking, financial and infra segments while exiting stocks from cyclical sectors, including FMCG and chemicals during the period. Here are the lists of top 10 stocks that open ended equity oriented mutual fund schemes added and exited their holdings in large-cap, mid-cap and small-cap segments over the last one month. Moneycontrol only considered diversified, sector, thematic and hybrid schemes. And portfolios were as on June 30, 2021.
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As per the AMFI’s classification, large-cap stocks are the top 100 companies in terms of full market capitalization. Mutual funds increased stake mainly in the large-cap stocks part of the Nifty Next 50 index such as Indus Towers, Havells India, SBI Cards And Payment Services, Godrej Consumer Products and HDFC AMC.
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Mutual funds booked profit in the stocks that had a strong run up recently and reached their target. Over the last one year, the large-cap stocks including NMDC, Adani enterprises, Grasim Industries and Interglobe Aviation rallied as much as 106%, 763%, 162% and 75% respectively. Mutual funds cut their exposure in the non performing stocks like Dabur India (gained 22% past year) and IOC (16%).
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AMFI defines mid-cap stocks are those 101st-250th company in terms of full market capitalization. Stocks in banking and financial services from mid-cap space have been found fovour. Auto, gas and selected infra companies were also part of their preferred investment during the month.
Mutual funds booked profit stocks from specialty chemicals (Alkyl Amines Chemicals, Deepak Nitrite and Aaarti Industries) which put up a staller performance over the last 2-3 years. Around 20 schemes pruned their allocation in Petronet LNG due to its weak prospects. Health Care Service Provider Dr. Lal Pathlabs lost its sheen among MFs; around 11 schemes exited their holding during June 2021.
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SEBI defines 251st company onwards in terms of full market capitalization as small-cap stocks. Zensar Technologies and Brigade Enterprises were the most preferred stocks among mutual funds as 11 schemes newly added these stocks in their portfolio.
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KRBL, Ircon International, Gujarat Alkalies And Chemicals and PTC India Nazara Technologies were some of the stocks mutual funds reduced their exposure during June 2021.
