Which large-cap stocks did mutual funds buy and sell the most in April?

Indian mutual funds exhibited a distinct buying preference for large-cap stocks in April 2024, with a clear focus on the Banking and Consumer sectors. 

Banking takes centre stage:

Kotak Mahindra Bank emerged as the most purchased large-cap stock, with mutual funds accumulating a significant amount (49,160 crore) in the company. Punjab National Bank also saw a surge in buying, indicating investor confidence in the banking sector, shows data analysed by ICICI Securities. 

Consumer goods find favor:

FMCG giant Hindustan Unilever witnessed the second-highest buying activity, followed by Marico Ltd.

Life Insurance gain traction:

HDFC Life Insurance found its place among the top choices, suggesting a potential shift towards long-term wealth creation strategies.

Energy and power stocks see interest:

Vedanta Ltd. and Tata Power Company attracted buying interest, indicating a diverse selection within the large-cap space.

Other Notable Mentions:

Havells India (electronics) and Eicher Motors (automobiles) also made the list, showcasing a focus on specific segments within the broader consumer and industrial sectors. Shriram Finance (financial services) rounded out the top ten, demonstrating continued investor interest in the financial space.

Mutual funds reduced holdings in JIO Financial Services, LTIMindtree, SRF, Divi's Lab, Nestle India, Interglobe Aviation, SBI Cards and Payments, Bajaj Auto, Hindustan Aeronautics and Torrent Pharma.