Most-bought and most-sold stocks by MFs in September

The markets went through a volatile period in September with the Nifty climbing to a record high on September 18 and then coming off over three per cent. The fall in the market was on the back of concerns surrounding an economic slowdown and global risk-off created by the US Federal Reserve’s decision to trim its balance sheet. Equity fund managers remained cautious in their stock selection. Two new listings — ICICI Lombard General Insurance and SBI Life Insurance — were the most lapped-up counters as fund managers used their piling corpus of cash. Put together, they pumped in over Rs 3,450 crore in these two insurers. Almost all big fund houses — HDFC MF, ICICI MF, Aditya Birla Sun Life MF, Reliance Nippon MF and SBI MF — were buyers of these two new entities on the stock market. Aviation stock IndiGo emerged as the third most favourite stock with fund managers stoking nearly Rs 1,380 crore in the airline’s shares.
 
SBI MF, in particular, took major interest in IndiGo and cornered shares worth Rs 800 crore alone. Besides these three stocks, asset managers were buying blue chip names ITC, Infosys, HDFC Bank and ICICI Bank. India's largest fund house, ICICI Prudential Mutual Fund, had significantly added ITC (Rs 915 crore) and Infosys (Rs 574 crore). HDFC Bank saw high buying interest coming from HDFC MF (Rs 376 crore) and Aditya Birla Sun Life MF (Rs 657 crore). On the other hand, Tata Motors, Vedanta and Grasim were among the most-sold stocks. Interestingly, DSP BlackRock MF completely exited Tata Motors by selling shares worth Rs 218 crore.

Source: Edelweiss Fund Insight Report