Mutual funds go shopping; hike stake in PSBs in March quarter

Their holding in 13 banks increased by up to three percentage points in the March quarter

Domestic mutual funds (MFs) have raised their stake in public sector banks (PSBs) in January - March 2017 quarter. In the first three months of calendar year 2017 (CY17), they have collectively put in Rs 11,469 crore in the Indian equity market, data show.

The flow continued in April as well, with the MFs putting in Rs 9,917 crore compared to Rs 4,196 crore in the previous month. In past seven months, between October 2016 and April 2017, mutual funds have pumped in Rs 53,469 crore in equities. By comparison, they had invested Rs 16,527 crore in the previous corresponding period.

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