The stock market has been witnessing a consistent decline for some time now, with the Sensex and Nifty dropping by as much as 5–6% in October 2024. Despite the downward trend, mutual funds have actively adjusted their portfolios. Do you know which stocks they heavily bought and sold during this period?
According to a report by ICICI Direct, mutual funds made notable purchases in October. Among large-cap companies, Punjab National Bank was a major buy. In the mid-cap category, Bank of Maharashtra stood out, while in the small-cap segment, Pakka Limited topped the list of purchases. On the other hand, mutual funds sold shares most prominently in Indian Oil Corporation (large cap), Steel Authority of India Ltd. (mid-cap), and RBL Bank (small cap).
Top Stocks Bought by Mutual Funds in October:
Large Cap:
Punjab National BankTorrent Pharmaceuticals Ltd.JSW Energy Ltd.Havells India Ltd.Adani Enterprises Ltd.
Mid Cap:
Bank of MaharashtraIDFC First Bank Ltd.One97 Communications Ltd.Poonawalla Fincorp Ltd.Aditya Birla Capital Ltd.
Small Cap:
Pakka Ltd.R Systems International Ltd.Epigral Ltd.Sundaram-Clayton Ltd.Inox Wind Energy Ltd.
Also Read | 5 Mutual Funds That Can Double Your Money Faster Than You Think.
Top Stocks Sold by Mutual Funds in October:
Large Cap:
Indian Oil Corporation Ltd.Cholamandalam Investment & Finance Co.Dr. Reddy's Laboratories Ltd.Adani Power Ltd.
Mid Cap:
Steel Authority of India Ltd.Bandhan Bank Ltd.Endurance Technologies Ltd.IRCTC Ltd.HUDCO
Small Cap:
RBL Bank Ltd.ITD Cementation India Ltd.Privi Specialty Chemicals Ltd.Flair Writing Industries Ltd.Manappuram Finance Ltd.The report reflects the active reshuffling by mutual funds to navigate the current volatile market conditions.