What’s hot, what’s not with mutual funds ?
June 15th, 2009
Mutual funds, MFs bought shares of power trading company PTC India, oil & gas exploration companies like Reliance Petroleum and Cairn India, while reduced exposure to Indian Overseas Bank, one of the FMCG major Marico and one of the telecom major Idea Cellular. Oil & gas, broking, real estate and media (especially broadcasters) stocks dominated the top 50-buy list, while selling was seen in shares of FMCG, sugar and banking companies. Stocks were re-aligned on the large scale in the power related stocks. Re-alignment was also seen in technology, shipping, telecom and construction sectors. In terms of value, Bharti Airtel, ONGC and Cairn India were the top purchases by MFs, while SBI, ICICI Bank and Axis Bank topped the sell list.