Financials dominate large- and mid-cap universe of equity mutual funds

The top three sectors in the mid-cap space are financials (25% share), consumer (23%) and pharma (9%)

Stocks in the financial space dominate the large- and mid-cap universe of equity mutual funds (MFs). According to an analysis done by Edelweiss, financial stocks account for 28 per cent of the market cap of the top 100 stocks (large-caps), followed by consumer stocks at 18 per cent, technology at 14 per cent, and oil & gas at 13 per cent. 

The top three sectors in the mid-cap space are financials (25 per cent share), consumer (23 per cent) and pharma (9 per cent). 

The large-, mid- and small-cap universe of equity MFs have seen a slew of changes following the half-yearly review. The top 100 stocks based on their market value are tagged as large-caps. 

 

Those ranked 101 and 250 in terms of market value are tagged as mid-caps and the remaining fall under the definition of small-cap. These stocks are reviewed based on changes to their stock prices on six-month basis (January to June and July to December). 

Industry body Association of Mutual Funds in India (Amfi) put out the new rankings last week.

According to an analysis done by Edelweiss, the cut off for large-caps has come in at Rs 26,677 crore, while that for mid-caps, it’s Rs 6,955 crore. 

Also, the top 100 stocks account for 74 per cent of the total market capitalisation, while mid-caps account for 15 per cent and the small-cap stocks — those ranked below 250 — account for 11 per cent of the total market cap.