Mutual funds rebalancing in May shows preference for low-beta stocks

Market observers say selling these two stocks were more of a tactical call following a sharp run-up in them during April

Mutual funds (MFs) were among the major buyers in large share sales in companies, such as Hindustan Unilever, Bharti Airtel, and Kotak Mahindra Bank.

All the three stocks featured in the most-bought list for May. Besides these stocks, ICICI Bank, Power Grid, Dr Reddy’s, and Wipro were among the top buys for equity fund managers last month.

On the other hand, index heavyweights Reliance Industries and HDFC Bank were the most-sold counters.

Market observers say selling these two stocks were more of