 "Domestic mutual funds trim holdings in Reliance Industries, Infosys")
In January, domestic mutual funds (MFs) trimmed positions in Nifty heavyweights like Reliance Industries (purchase of shares worth Rs 2,080 crore), Infosys (Rs 2,010 crore), Bharti Airtel (Rs 1,200 crore), PowerGrid, and TCS (Rs 1,000 crore each).
This was in a month when the benchmark Sensex retreated 3 per cent. Interestingly, MFs were net sellers in telecom major Airtel, even as FPIs increased their bets on telecom stocks in January.
The major additions by the MF industry were in IRFC (Rs 930 crore), HCL Tech (Rs 730 crore), Axis Bank (Rs 650 crore), Asian Paints (Rs 650 crore) & Larsen & Toubro (Rs 630 crore).
The funds also bought IPOs worth Rs 1,200 crore, of which IRFC got the major chunk; Indigo Paints garnered Rs 140 crore and Home First received Rs 120 crore in January.
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