What Mutual Funds Bought and Sold Across All Caps in September 2024
By Prasiddh Shroff (@PrasiddhShroff/X)
Pune, 18th October 2024: In September, the buying spree of Rs.34,419 crores by Mutual Funds keeps Indian markets higher. However, the foreign institutional investors (FII) selling in October has created panic in the D-Street. Should you be worried about it?
The Indian investing culture, from the risk-averse Fixed Deposits to riskier assets Equity markets via Mutual Funds, has grown enormously to new heights, and Domestic Institutional Investors (DII) managing these funds are bound to buy the shares.
September 2024 proved to be a strong month for the Nifty 50 index, with gains of 2.28% as they witnessed substantial inflows, highlighting investors continued faith in the Indian stock market.
According to the Association of Mutual Funds in India (AMFI), Equity Mutual Funds saw a net inflow of ₹34,419 crores. This figure is even more impressive when considering the steady rise of Systematic Investment Plans (SIPs), which brought in ₹24,509 crores during the same month, which is also the new All-Time High figure.
But the big question remains: Where exactly is all this money going? Mutual funds typically invest across various sectors and market capitalisations, buying shares of companies they believe have strong growth potential and selling shares in which they want to reduce their exposure.
Let us look at the major stocks where mutual funds have been making moves, both in buying and selling.
Large-Cap Stocks
In the Large-cap space, significant buying occurred in the following stocks:
- Infosys: ₹3,011 Crores
- Samvardhana Motherson International: ₹2,165 Crores
- Reliance Industries: ₹2,159 Crores
On the other hand, mutual funds made major selling from:
- ICICI Bank: ₹2,919 Crores
- Trent Ltd: ₹1,920 Crores
- Tata Motors: ₹1,583 Crores
Mid-Cap Stocks
In the Mid-cap segment, mutual funds focused their buying on:
- Prestige Estates Projects: ₹1,474 Crores
- Sona BLW Precision Forgings: ₹1,215 Crores
- General Insurance Corporation of India: ₹819 Crores
However, they trimmed their holdings in:
- Vodafone Idea: ₹1,192 Crores
- Voltas: ₹705 Crores
- Bharat Forge: ₹699 Crores
Small-Cap Stocks
In the small-cap universe, the following stocks saw significant buying:
- GE T&D India Ltd: ₹4,103 Crores
- Indigo Paints: ₹989 Crores
- KPR Mill Ltd: ₹802 Crores
Meanwhile, selling was observed in:
- CDSL: ₹638 Crores
- Zee Entertainment: ₹420 Crores
- IIFL Finance: ₹342 Crores
Conclusion
September 2024 showcased the dynamic nature of mutual fund investments, with fund managers making strategic moves across large-cap, mid-cap, and small-cap stocks. While some companies attracted significant capital, others saw major sell-offs.
So, the next time you think about where your SIP contributions or mutual fund investments are going, take a closer look at the stocks that fund managers are betting on.
You can analyse the Mutual Fund Scheme using MFZone by Definedge Securities.
Whether it’s the giants of the large-cap space or the rising stars in the small-cap universe, these investments can provide valuable insight into the market’s future direction.
Note: The above buying and selling data considers only equity-oriented mutual fund schemes and does not include index funds or ETFs.
Disclaimer: The purpose of this article is only to share interesting charts, data points and thought-provoking opinions. It is NOT a recommendation. This article is strictly for educative purposes only.
As per SEBI guidelines, the writer and his dependents may or may not hold the stocks/commodities/cryptos/any other assets discussed here. However, clients of Definedge may or may not own these securities.
(About Author: Prasiddh Shroff is a Chartered Financial Analyst (CFA) Charterholder with a strong aptitude for mutual fund and company fundamental analysis. At Definedge, he serves as a Research Analyst and has also played a significant role in developing platforms such as MFZone for mutual fund analysis and investments, as well as Radar for company analysis and stock scanning.)
