Asian Paints, Adani Enterprises, Shriram Finance, Adani Ports, and Eicher Motors witnessed the highest month-on-month (MoM) net buying among the Nifty 50 stocks by mutual funds in July 2024, shows data analysed by Motilal Oswal. The substantial increase in MF holdings suggests a positive investor sentiment towards these companies.
In the Nifty Midcap 100 space, mutual funds were net buyers in 59 per cent of the stocks. The highest MoM net buying in July 2024 was observed in Patanjali Foods, Mazagon Dock, Yes Bank, Godrej Properties, and Piramal Enterprises.
Mutual funds were net buyers in approximately 57% of the companies listed in the Nifty Smallcap-100 index during July 2024. The highest MoM net buying was witnessed in PNB Housing Finance, Himadri Speciality, GNFC, Manappuram Finance, and Intellect Design.
The stock market experienced significant fluctuations in July 2024, with certain stocks witnessing substantial gains while others faced declines.
Top Gainers:
Infosys, ITC, L&T, ONGC, Maruti Suzuki, NTPC, Sun Pharma, TCS, HUL, and SBI emerged as the top performers, registering the highest month-on-month (MoM) increase in value.
Top Losers:
On the other hand, HDFC Bank, Reliance Industries, Axis Bank, Hindustan Aeronautics, Bajaj Finance, Tata Steel, Vodafone Idea, Hindalco Industries, HUDCO, and SKF India experienced the most significant MoM decline in value.
In July 2024, MFs showed interests in Technology, Consumer, Healthcare, Utilities, Insurance, Real Estate, Infrastructure, and Chemicals, leading to a MoM rise in their weights. Conversely, Private Banks, NBFCs, Automobiles, Capital Goods, Oil & Gas, Telecom, PSU Banks, Metals, and Cement saw a MoM moderation in weights.
Private Banks (16.1%) was the top sector holding for MFs in July, followed by Technology (8.9%), Automobiles (8.7%), and Capital Goods (7.9%).
Infrastructure, Real Estate, Insurance, Technology, and Consumer sectors witnessed the maximum increase in value MoM.
Among the top 25 schemes by assets under management, the following reported the highest MoM increase: ICICI Pru Value Discovery Fund (+7% MoM change in NAV), HDFC Mid-Cap Opportunities Fund (+6.2% MoM), Nippon India Small Cap Fund (+6.1% MoM), SBI Long Term Equity Fund (+5.7% MoM), and Nippon India Growth Fund (+5.5% MoM).
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The technology sector witnessed a significant increase in allocation, rising to 8.9% of total mutual fund investments. This marks the second consecutive month of growth. -
The consumer sector also showed improvement, reaching a seven-month high with a 6.2% allocation. -
The healthcare sector gained momentum, increasing its allocation to 7.2%. -
The private banking sector experienced a notable decline, reaching a six-year low with a 16.1% allocation
First Published: Aug 14 2024 | 3:18 PM IST
