Top MF buys & sells in August

When the Indian markets saw their biggest monthly drop in nearly four years in August, domestic mutual fund managers were busy tapping corrections. Besides buying high-beta banking stocks such as HDFC Bank and Axis Bank, they bought information technology stocks such as Infosys, which are likely to benefit due to the fall in the rupee. Fund managers invested Rs 10,000 crore in the stock markets in August, when the market fell 6.5 per cent. The bulk of the buying was seen when the market saw bouts of selling, like on August 22, when the Sensex plunged six per cent. Managers sold holdings in pharma and oil marketing companies