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Equity scheme investors to breathe easy as banking, financial firms rally

M-cap of 11 banks and financial firms on the Nifty50 is up 24 per cent since September, boosting NAVs of large diversified equity schemes

Photo: Bloomberg
These banks and financial companies had a combined m-cap of Rs 27.5 trillion os of Friday’s close, against Rs 22.2 trillion at the end of September | Photo: Bloomberg

Equity mutual fund (MF) investors can expect better performance from their schemes as banks and financial companies are back to being rally leaders from being laggards for the better part of the current calendar year. Top stocks in the financials space are the No. 1 bet for MF managers. A poor showing by them in the first nine months of the year had hit the performance of most diversified large-cap funds. This is now about to change. The combined market capitalisation (m-cap) of 11 banks and financial companies, including companies that are part of Nifty50 index, is up 24 per ...