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 at a 20-month high of 3.5 per cent, up 30 bps from the previous month and up 150 bps YoY. Automobiles’ weight rose for the second consecutive month to 6.3 per cent (up 20 bps MoM) while that of Healthcare moderated for the third consecutive month to a 20-month low of 6.9 per cent (-30 bps MoM and -150 bps YoY).