What Did Mutual Funds Buy & Sell in Oct. 2024?
Pune, 15 November 2024: October proved to be a turbulent month for the Indian markets. While foreign institutional investors (FIIs) were on a selling spree throughout the month, domestic investors, led by mutual funds, stepped up to stabilize the market with notable inflows. For the first time, monthly SIP inflows crossed the ₹25,000 crore milestone, reflecting the unwavering confidence of retail investors even amid market volatility.
This surge in domestic participation highlights the resilience of Indian investors and the growing prominence of systematic investing. But, where exactly did mutual funds allocate their substantial inflows during this month of market upheaval? Let’s dive into the details of their strategic buying and selling moves.
Large-Cap Stocks
In the large-cap segment, mutual funds heavily invested in:
⦁ Mahindra & Mahindra (M&M): ₹6,436 Crores
⦁ HDFC Bank: ₹3,826 Crores
⦁ Axis Bank: ₹3,544 Crores
Conversely, they chose to pare down their stake in:
⦁ HCL Technologies: ₹867 Crores
⦁ Cholamandalam Investment & Finance: ₹764 Crores
⦁ Indian Oil Corporation: ₹739 Crores
Mid-Cap Stocks
In the mid-cap space, fund managers bought:
⦁ Marico: ₹675 Crores
⦁ Paytm (One97 Communications): ₹672 Crores
⦁ PB Fintech: ₹602 Crores
On the other hand, they reduced holdings in:
⦁ Torrent Power: ₹628 Crores
⦁ Voltas: ₹551 Crores
⦁ Max Financial Services: ₹514 Crores
Small-Cap Stocks
In the small-cap segment, the following stocks were favoured:
⦁ Power Mech Projects: ₹1,166 Crores
⦁ Sansera Engineering: ₹714 Crores
⦁ 360 One Wam: ₹597 Crores
Meanwhile, major selling was observed in:
⦁ RBL Bank: ₹855 Crores
⦁ CDSL: ₹527 Crores
⦁ Vedant Fashions: ₹395 Crores
Conclusion:
October 2024 highlighted how mutual funds moved their money amid a tough market. Their strategic buying and selling decisions reflect their adaptability to market trends and belief in certain sectors’ growth potential.
For individual investors, these moves by mutual funds can provide useful insights into market direction and help you make informed decisions about your investments. You can explore more about mutual funds and their strategies using tools like MFZone by Definedge.
Disclaimer: The information presented is for educational purposes and not investment advice. Mutual fund investments are subject to market risks. Please read all scheme-related documents carefully before investing.
About the Writer: Name: Prasiddh Shroff
Twitter Handle: @prasiddhshroff
Bio: Prasiddh Shroff is a CFA Charter holder specializing in mutual fund and company fundamental analysis. As a Research Analyst at Definedge, he has been instrumental in developing platforms such as MFZone for mutual fund analysis and Radar for company analysis and stock scanning.
