Equity mutual funds' shopping for stocks continues

During the Oct-Dec quarter, fund managers had deployed over Rs 30,000 crore in stocks

India’s equity mutual fund (MF) managers have bought stocks worth Rs 4,079 crore so far this month, from data issued by the Securities and Exchange Board of India.

In December, they'd pumped in Rs 9,200 crore, despite weak market sentiment. Despite this, they carried forward into January a cash position of nearly Rs 20,000 crore in their combined portfolios.

According to fund managers, the stocks chased the most in January include State Bank of India (SBI), ICICI Bank, Tata Motors, YES Bank and Larsen & Toubro.

“We have been buying and have restrained a bit over the past few days.