MFs pump Rs 22,000 cr into stocks in March amid extreme market volatility

Among large-caps, Kotak Mahindra Bank, HDFC, ONGC and Maruti Suzuki among most-bought shares; ITC tops sell list

Domestic mutual fund managers bought stocks worth Rs 22,200 crore in March, amid wild swings in share prices. Among the large-cap names, Kotak Mahindra Bank, HDFC, ONGC and Maruti Suzuki were among the most-bought shares. While in the mid-cap and small-cap segment top buys were Coforge, Indian Hotels, MCX and V-Guard shows the analysis done by Edelweiss.
 
On the other hand, ITC topped the sell list. Equity schemes cut exposure to the tune of around Rs 3,000 crore in the stock, taking advantage of a steady increase in its share price. Fund managers cut exposure in stocks such as Hindalco Industries, Sun Pharma, UPL and Bharti Airtel.
 
Equity funds have continued to witness net inflows for the 13th consecutive months. In March equity funds saw highest ever inflows to the tune of Rs 28,463 crore compared to Rs 19,705 crore seen in February 2022. Most of the fund houses were overweight on sectors such as auto, capital goods and cement and construction stocks among others.