Mutual fund managers pare holdings in large banks in September

The most-bought list is dominated by companies that are expected to benefit from a revival in economic activity and consumer spending

Mutual fund (MF) managers were seen pruning their holdings in blue-chip banking names during September. State Bank of India (SBI), ICICI Bank, HDFC Bank, and Kotak Mahindra Bank are among the stocks that saw maximum selling. The selling by MFs weighed on the performance of these stocks as the Bank Nifty index dropped 10 per cent in September. However, from the September lows, the banking index has jumped 15 per cent, mainly led by overseas investor buying. Other blue-chip names that have emerged in the most-sold list include Hindustan Unilever, Infosys, Larsen & Toubro, and Reliance Industries. 

The most-bought list is