Exit plan: Mid-cap stocks that fund houses sold ahead of volatility

The domestic equity market has been on a roller coaster ride for over the last month. The Nifty 50 total return index (TRI) corrected above five percent from its last peak of September 26, 2024, while Nifty Midcap 150 TRI lost more than three percent. Persistent FII outflows, rising valuations of domestic mid-and small-cap stocks, and escalating geopolitical tensions dampened the investors’ sentiment. Here are the most sold midcap stocks by active mutual fund schemes (net) in September month. Fund managers may have chosen to sell their holdings because of stocks reaching their in-house target prices, an unfavourable change in underlying investment idea making the stock unattractive or the fund manager coming across a better-placed stock offering higher potential upside. Values are as of September 30, 2024. Source: ACEMF.

Indus Towers
No. active schemes exited: 32
Who sold?: Kotak Balanced Advantage and Mahindra Manulife Large & Mid Cap, and others

Oil India
No. active schemes exited: 14
Who sold?: Canara Rob Mid Cap, WOC Large Cap, and others

Also see: microcap multibagger stocks added by mutual funds, amidst volatility

Container Corporation Of India
No. active schemes exited: 12
Who sold?: Invesco India Infrastructure, Sundaram Large and Mid Cap, and others

Indian Bank
No. active schemes exited: 12
Who sold?: Baroda BNP Paribas Multi Cap, HSBC Small Cap, and others

Vodafone Idea
No. active schemes exited: 11
Who sold?: ITI Mid Cap and Union Midcap, and others

Also see: Chasing Chinese dragons: What's in store for Indian mutual fund investors?

Ashok Leyland
No. active schemes exited: 9
Who sold?: Tata Large & Mid Cap, Baroda BNP Paribas ELSS Tax Saver, and others

Bank Of India
No. active schemes exited: 9
Who sold?: Aditya Birla SL Pure Value, LIC MF Midcap, and others

3M India
No. active schemes exited: 8
Who sold?: Union Business Cycle, ICICI Pru Innovation, and others

Also see: 4 sectors that PMS managers are betting big on, investing 50% of funds

Petronet LNG
No. active schemes exited: 7
Who sold?: Axis Midcap, Bandhan Multi Cap, and others

Housing & Urban Development Corporation
No. active schemes exited: 6
Who sold?: Shriram Flexi Cap, JM Large Cap, and others

Page Industries
No. active schemes exited: 6
Who sold?: Quant Consumption, Franklin India Bluechip, and others

Also see: Winning the mid-cap race: How fund managers made their moves