Domestic mutual funds (MFs) injected ₹35,600 crore into the Indian stock market in August, with significant buying seen in Zomato, Tata Consultancy Services (TCS), Trent, and Maruti Suzuki shares, data compiled by Nuvama Alternative & Quantitative Research showed.
On the other hand, domestic MFs alongside foreign institutional investors (FIIs) sold ₹2,700 crore in the Indian secondary market, with the highest selling witnessed in HDFC Bank, Reliance Industries, Apollo Hospitals, and Infosys, while Adani Enterprises was a complete exit, the data showed.
In the midcap space, Kalyan Jewellers, Delhivery, Mphasis, and AU Small Finance were among the top MF picks, while Oil India, Dixon Tech, Cummins India, Prestige Estates were among key selling stocks.
Meanwhile, Zen Technologies, Aster DM Health, PNB Housing, and Multi Commodity Exchange saw strong buying in the smallcap sector. On the other hand, National Aluminium Company, Laurus Labs, Sonata Software, and Aditya Birla Fashion & Retail saw maximum selling in this space.
The report showed that Anup Engineering, Shriram Pistons, PTC India Financial Services, Kaveri Seed Co. were new entrants in the smallcap space, Vaibhav Global, Pix Transmission, DreamFolks Services, and KRBL made complete exits from MF buckets.
The Nuvama report highlighted that key additions across the mutual funds industry were Axis Bank (₹3,100 crore), OLA Electric (₹2,700 crore) and FirstCry’s parent Brainbees Solutions (₹2,500 crore), while key reductions were HDFC Bank (₹8,300 crore), Bharti Airtel (₹1,900 crore), and Zydus Life (₹1,500 crore).
In the midcap, key additions were Brainbees Solutions (₹2,500 crore), Delhivery (₹1,100 crore), PNB Housing Finance (₹600 crore) and Aster DM Health (₹600 crore). Key reductions in this space were India Cements (₹400 crore), Cholamandalam Finance (₹300 crore), Firstsource Solutions (₹200 crore) and Aarti Industries (₹200 crore).
As per the data, key additions in smallcap space were Cyient DLM (₹440 crore), Medplus Health (₹400 crore) and Ceigall India (₹200 crore). Key reductions were VST Inds (₹1,100 crore), Tips Industries (₹100 crore), Nazara Technologies (₹100 crore) and Chemplast Sanmar (₹100 crore).
The data shows that MF top additions for 3 consecutive months were Larsen & Toubro, ITC, and Maruti Suzuki, while Bharti Airtel witnessed reductions for 3 straight months.
In midcap space, HUL, Power Grid Corp, Tech Mahindra, IndusInd Bank, and Lupin saw buying for 3 consecutive months, while key reductions were Avenue Super, Cummins India, Hindustan Aero, Apollo Hospitals and Bharat Forge.
In smallcap, Nykaa (FSN E-com), Gland Pharma, Sona BLW, Tata Consumer Products and Balkrishna Industries remained on buying radar for three months. Key reductions from this space were Max Healthcare Institute, Muthoot Finance, UNO Minda, Container Corpn and Tube Investments of India.
In terms of MF house wise activity, HPCL, Kotak Bank and ONGC were among top picks by Aditya Birla Sun Life Mutual Fund (MF), while Lupin, TVS Motor Co and Infosys were prominent additions by Axis MF.
For SBI MFs, prominent additions were Brainbees Solutions, RIL, and Adani Energy, while Infosys, Nykaa, and Birlasoft were among top picks by Kotak MF.
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