Equity mutual funds received inflows of ₹ 8,898 crore in July. This is the 17th straight month of investments. Due to volatile market conditions, inflows dropped by 43% compared to June month.
Many Equity mutual fund schemes preferred to do fresh investment in Kotak Mahindra Bank, Britannia, UPL, PB Fintech, HDFC Life, Tata Motors, Gland Pharma, SBI Cards, HAL and Cummins.
Some equity schemes completely exited from HCL Technologies, Power Grid, Wipro, ONGC, BPCL, Tata Steel, Crompton Greaves, Bajaj Auto, Polycab India, Ambuja Cements and Bank of Baroda.
Capital Goods, Alcohol, FMCG, Chemicals, Infrastructure and Realty were preferred investment sectors of Equity MF Schemes.
Some MF schemes exited their investments from IT, Oil & Gas, Iron & Steel, Agri and Electricals sectors.
Most of Equity mutual fund schemes underperformed compared with benchmark indices due to sharp rally in the equity market.
It is very interesting to know which schemes received major inflows, which schemes faced redemption pressure, top traded stocks and fresh stock picks by AMCs during July month.
For all these snippets and much more please read through our report.