BSE Sensex and NSE Nifty 50 traded volatile during the month of May, falling more than 2.5% each. During this period mutual fund managers were seen selling large-cap stocks such as Zomato, Steel Authority of India (SAIL) and even Indian Railway Catering And Tourism Corporation (IRCTC). On the other hand, HDFC AMC, JSW Steel, Dabur India and Infosys were some of the most bought stocks in May. During the month, inflows ex-NFOs increased to Rs 18,500 crore against Rs 12,800 crore in April, a 45% jump, analysts at ICICI Direct said.
Top largecap stocks sold
SAIL was the most sold largecap stock in May, according to ICICI Direct. Fund managers held SAIL shares worth Rs 1,609 crore in April, which was trimmed to Rs 698 crore in May.
IRCTC was the second most sold stock as the value of IRCTC shares held by fund houses dropped from Rs 83 crore to Rs 57 crore. The number of shares held was down to 8 lakhs from 11 lakhs.
Zomato was also among the stocks that were sold. The number of shares held by fund managers was down at 19.43 crore, down from 21.69 crore. The value of holding was at Rs 1,450 crore from Rs 1,557 crore.
Most bought largecap stocks
HDFC Asset Management Company was the most purchased largecap stock in May. ICICI Direct data showed that fund managers held 37 lakh shares of the AMC at the end of May, compared to 18 lakhs in April. The value was up at Rs 695 crore, from Rs 364 crore.
Dabur India was the second most bought stock. Fund houses had 4.73 crore shares of the company with them in May, up from 4.09 crore a month earlier.
JSW Steel shares were also among the most purchased ones accompanied by SBI Cards and Payment Services.
Midcap stocks that were in demand
Among Midcap stocks, L&T Finance Holdings was the most purchased stock in May by fund managers. The number of shares increased in May to 3.45 crore from 2.43 crore in April, the value increased to Rs 262 crore from Rs 213 crore.
Escorts Kubota shares with fund managers increased to 76 lakhs from 55 lakhs a month ago. The value of holding increased to Rs 1,235 crore from Rs 902 crore.
Midcap stocks sold
Aditya Birla Sun Life AMC was among the most sold midcap stocks by mutual funds in May. The number of shares held was down to 52 lakh from 77 lakhs while value of holdings dropped to Rs 221 crore from Rs 403 crore in April.
Baba Ramdev-owned Ruchi Soya Industries was the second most sold stock. Fund Managers ditched shares of the company with the number of stocks in portfolios dropping to 36 lakh from 48 lakh in April.
Aditya Birla Capital’s shares were also sold by fund houses in May. The total holding was down to 2.96 crore from 3.78 crore earlier in April. The value was down at Rs 299 crore from Rs 456 crore a month ago.