MFs raise bank, automobile holdings in October: Motilal Oswal report

Private banks' weightage stood at a five-month high of 17.7%, up 90 basis points MoM and up 10 bps YoY. The sector weightage was at a 29-month low in September 2020

Private banks remained the top sector holding for mutual funds in October, followed by technology (11.7 per cent) and NBFCs (8 per cent).

On a month-on-month (MoM) basis, the weightage of banks, automobiles, capital goods, cement and retail increased, while that for healthcare, consumer, utilities, oil and gas, technology, chemicals, infrastructure, and consumer durables moderated, a report by Motilal Oswal Financial Services observed.

Private banks’ weightage stood at a five-month high of 17.7 per cent, up 90 basis points MoM and up 10 bps YoY. The sector weightage was at a 29-month low in September 2020.

PSU banks’ weightage stood