 "Gautam Adani")
Two Adani group stocks were among the top five large-cap stocks bought by mutual funds in August 2023.
A total of 61 lakh shares of Adani Power were bought in August as opposed to 17 lakh shares in July 2023, according to ICICI Securities.
A total of 61 lakh shares of Adani Power were bought in August as opposed to 17 lakh shares in July 2023, according to ICICI Securities.
Twenty-two lakh shares of Adani Energy were bought in August, up from 16 lakh in July 2023.
Adani Power, Adani Energy Solutions, Vedanta, Interglobe Aviation and Dabur India were the top five stocks bought in the month gone by while Siemens, Pidilite Industries, Tube Investments of India, Indian Oil Corporation and Marico were the most sold large-cap stocks in August 2023, noted the ICICI Securities report.
Other major large-caps that were bought were Britannia Industries, Tata Power, Zomato, UPL and IRCTC.
Other major large-cap sells were Berger Paints, Trent, Torrent Pharma, Tata Consumer Products, Dr Reddy's Laboratories.
More From This Section
Amid mid-cap stocks, Union Bank of India, Coforge Ltd, Aditya Birla Capital, Star Health and Allied Insurance, and IIFL Finance were most bought, while GMR Airports Infrastructure, Ashok Leyland, Supreme Industries, Bharat Heavy Electricals and Piramal Enterprises were most sold.
Other major mid-cap purchases included Sun TV, ACC, FSN E-commerce, Petronet LNG, Dixon Technologies.
Other major mid-cap sells were LIC Housing Finance, Astral, Escorts Kubota, Tata Chemicals and HDFC Asset Management Company.
In the small-cap space, Inox Wind, Suzlon Energy, BSE, SJS Enterprises and Piramal Health were most bought, while Anupam Rasayan India, Campus Activewear, Camlin Fine Science, Globus Spirits, and Mahanagar Gas were most sold.
In August 2023, the sectoral/thematic funds saw the highest inflows to the tune of Rs 4,805.8 crore during the month. Equity-oriented funds continued to witness net inflows in August, making it the 30th consecutive month of net inflows to the tune of Rs 20,245.26 crore, which was 167 per cent higher than what it witnessed in the previous month (Rs 7,625.96 crore).
"The spike in the flows could also be attributed to the fact that there were five new fund launches during the month — HDFC Transportation and Logistics Fund, HSBC Consumption Fund, Kotak Quant Fund, Nippon India Innovation Fund, and Quant Manufacturing Fund which together collected Rs 2,560 crore during the launch month itself," said Gurmeet Singh Chawla, Director, Mastertrust
Further in August 2023, arbitrage funds also received a robust inflow of Rs 9842.65 crore as risk profile of the arbitrage funds is similar to debt funds. " This is suitable for conservative investors and has better tax treatment than fixed deposits. Arbitrage funds are treated as equity funds, they offer a massive tax advantage for an investor in the highest tax bracket," said Singh.
