Equity mutual funds witnessed the highest ever outflow in the month of December with investors moving out Rs 17,700 crore compared to an outflow of Rs 12,917 crore in November the AMFI data showed. This was the sixth consecutive month of MF outflows with the total outflow in the last six months at Rs 33,000 crore. Investors continue to book profit at every higher level.
Overall, mutual funds have consistently been net sellers since June last year and they cumulatively offloaded Rs 1.05 lakh crore shares since June 2020.
Despite that the overall MF industry’s AUM scaled new highs to reach Rs 31 lakh crore in December 2020 primarily led by the inflow of equities, income, and other ETF categories.
In a report, ICICI Direct mentioned the top 30 stocks bought and sold by mutual funds in October.
In the large-cap space, the highest buying was seen in Bosch, Godrej Consumer, Piramal Enterprises, Indus Towers, Adani Enterprises, and Punjab National Bank.
However, stocks like Vedanta, Bandhan Bank, DLF, UPL, Colgate-Palmolive, and InterGlobe Aviation saw the highest selling in December, the ICICI Direct report noted.
Among midcaps, IRCTC, GMR Infrastructure, Canara Bank, Shriram Transport Finance, Polycab India witnessed the highest buying from mutual funds in December. Other top buys also included Vodafone Idea, BHEL, LIC Housing, Suven Pharma, and M&M Finance.
On the other hand, the highest-selling was seen in AstraZeneca Pharma, Jubilant Life Sciences, Mahanagar Gas, Trent, SAIL, Castrol India, Tata Chemicals, Apollo Hospitals, Tata Power and Balkrishna Industries added the report.
Finally, in the smallcap space, Borosil Renewables, Burger King India, Mrs Bectors Foods Specialities, Astec Lifesciences, Indiabulls Housing Finance and Birlasoft were the top buys, as per ICICI Direct.
Entertainment Network India, Cochin Shipyard, Sundaram Finance Holdings SpiceJet, CDSL and Schneider Electric Infrastructure were sold the most.
Meanwhile, the SIP inflow in December at Rs 8,418 crore, was the best since May 2019. SIP inflows in November stood at Rs 7,302 crore, up 15 percent MoM.
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