Mutual funds bullish on financials; add Axis, SBI and HDFC Bank to portfolios

A highlight of some of the top mutual funds’ activity in November was the shuffle in the banking and financial sector. While Axis Bank, SBI and HDFC Bank were among the top buys of some money managers; ICICI Bank was a sell at fund houses including SBI, ICICI Prudential and Kotak. These mutual funds mostly sold insurance companies, including SBI Life and ICICI Prudential Life. The trend was mixed when it came to complete exits or fresh purchases. While HDFC Mutual, UTI, Kotak and Mirae mostly refrained from fresh purchases during the month amid concerns over rich valuations, the complete exits were far more in number at these fund houses. In the large-cap space, some fund managers bought select names like Siemens, HCL Tech and HUL.

MF buys and sells in November 2022

story dataET Bureau


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