 "Equity MFs take money off the table after sharp rebound in stock prices")
Domestic mutual fund (MF) managers were seen taking advantage of the sharp rebound in stock prices in June.
They pruned their holdings in shares, such as Bajaj Finance, HDFC Bank, and ICICI Prudential Life, which clocked sharp gains. On the other hand, money managers increased their wager on Kotak Mahindra Bank, Bharti Airtel, SBI Life Insurance, HDFC Life, and HDFC AMC, which also saw large share sales.
The Nifty rose 7.5 per cent in June, even as domestic MFs sold shares worth nearly Rs 4,000 crore. The broader theme was that MFs sold shares of financials, IT, pharma, and state-owned firms.
Meanwhile, stocks of FMCG firms, diagnostic chains and OMCs featured in the buy list.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%