Mutual funds have added 8 new stocks to their portfolio in the month of February while exiting 5 stocks. Manyavar has also been included in the stocks that have been added to the shopping list of mutual funds. It is worth noting that domestic institutional investors hold a large stake in mutual funds. Domestic institutional investors have made good buys in the Indian equity markets at a time when FIIs have been selling heavily in the country. Due to which there has not been any major fall in the market.
Domestic mutual funds have been net equity buyers in the month of February and have bought Rs 28,180 crore in the Indian market during this period. According to a report by IDBI Capital, domestic mutual funds had bought only Rs 16,488 crore in January. In this way, domestic mutual funds have given big support to the market in February.
Domestic mutual funds bought Rs 19,645 crore in equity-oriented schemes in February 2022, while domestic funds bought Rs 14,552 crore in such schemes in January. The contribution of SIP in the month of February has also been at a strong level, during which Rs 11,438 crore has come in mutual funds through SIP, while in January, Rs 11,517 crore came through SIP.
This investment by domestic mutual funds has given a big support to the market in the month of February as Nifty 50 and Sensex have lost nearly 3 per cent due to Russia-Ukraine war and consequent rise in commodity prices. In such a situation, if the market had not been supported by domestic funds, then this fall could have been bigger.
In contrast, FIIs have been net sellers in the month of February. According to the data of IDBI Capital, there has been continuous selling of FIIs in 5 months. FIIs have sold Rs 37,689 crore in February.
Akhil Chaturvedi of Motilal Oswal AMC It is said that in this situation of geopolitical tension in Eastern Europe, when the market has seen a huge decline. At the same time, the market has got huge support from domestic investors. This shows a clear change in the mindset of the investors and it is a huge positive change for the market. At present, the heavy selling of FIIs in the market seems to be being offset by DIIs, which is a good sign for the market.
In the month of February, a total of 8 stocks have been seen adding to mutual fund schemes while 5 stocks have been out of their shopping list. According to IDBI Capital data, Vedanta Fashion’s ethnic wear brand Manyavar was the biggest buy among mutual funds in February. By the end of February, its shareholding value had crossed Rs 1,500 crore. Its shares have been bought through an IPO launched in February.
Apart from Manyavar, domestic mutual funds have also seen strong buying in Forbes Enviro, Eureka Forbes, Expleo Solutions, TCPL Packaging, Lyka Labs, Shanthi Gears and Ambika Cotton in the month of February.
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However, mutual fund schemes have completely excluded 5 stocks from their portfolio which include Forbes & Company, India Nippon Electricals, POWERGRID Infrastructure, Himadri Specialty Chemical, and Brillio Technologies.
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