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- Jan 17, 2024 - Top 5 Stocks Mutual Funds Bought and Sold in December 2023
Top 5 Stocks Mutual Funds Bought and Sold in December 2023
December 2023 marked the 34th consecutive month of net inflows for Indian mutual funds, according to data released by the Association of Mutual Funds of India (AMFI).
That's not all.
It was also the month where the total mutual fund assets under management (AUM) crossed Rs 50 trillion mark for the first time.
Data showed that total AUM under the open-ended schemes stood at Rs 50.8 trillion in December against Rs 48.8 trillion in November 2023.
These continuous inflows come on the back of a rally in equity markets as Sensex and Nifty rose around 8% in December 2023.
The month saw equity inflows to the tune of Rs 170 bn, a growth of 9% when compared to inflows of Rs 155.4 bn recorded in November 2023.
During the month, smallcap funds saw the highest investments of Rs 38.6 bn, while midcap fund inflows almost halved. Largecap funds continued the trend and logged net outflows of Rs 2.8 bn.
Systematic investment plans (SIPs) continued their good run and it was the same old story. After topping inflows of around Rs 170 bn for the first time in November, SIP inflows rose to Rs 176.1 bn this month.
Smallcaps have been in demand and it's clearly visible from MF data. In contrast, largecap funds have logged net outflows.
A total of 14 open-ended NFOs were floated in December, which garnered Rs 78.1 bn.
Let's take a look at the stocks that mutual funds traded the most during this period...
Top Stocks Sold by Mutual Funds in December 2023
Largecaps: Indian mutual funds trimmed their positions in largecap stocks such as IOC, HDFC Life Insurance, Adani Ports, and IRFC.
Adani Enterprises and UltraTech Cement were the other largecaps that saw selling.
It was clearly visible that fund managers took some money from largecaps that have seen a good rally in recent months.
Midcaps: From the midcap space, mutual funds offloaded Suzlon Energy, IREDA, JSW Infra and Ashok Leyland.
Smallcaps: Indiabulls Housing, Delta Corp, Castrol, and Tracxn Technologies saw maximum selling by MFs from the smallcap space in December 2023.
Other notable sells from the smallcap space included TVS Holdings, Fino Payments Bank and Sagar Cements.
Top Stocks Bought by Mutual Funds in December 2023
Largecaps: Coming to buying, GAIL (India), Zomato, Dabur, Wipro and Tata Power witnessed massive inflows.
LIC, Mankind Pharma and Adani Power also witnessed buying.
Midcaps: From the midcap space, mutual funds bought shares of Bank of India, SAIL, GMR Airports and Indian Bank.
SAIL has seen buying for the second consecutive quarter now.
Other notable midcaps that saw heavy buying include Apollo Tyres and Nippon Life AMC.
Smallcaps: JK Tyres, Himadri Specialty Chemicals, and Jubilant Pharmova were the top smallcap buys.
Fresh smallcaps that made this list include the recently listed Shelter Finance and Inox India.
Arman Financial, Heubach Colorants, KPI Green Energy, and Sandur Manganese were among other smallcaps that some buying.
Top Equity Mutual Funds in December 2023
Here is the list of top 10 mutual fund houses as per their equity asset under management (AUM) as of December 2023.
Top 10 Equity Mutual Funds as per AUM
| Top Fund Houses | Equity AUM (Rs bn) |
|---|---|
| SBI Mutual Fund | 6,128.7 |
| ICICI Prudential Mutual Fund | 3,569.5 |
| HDFC Mutual Fund | 3,290.9 |
| Nippon India Mutual Fund | 2,592.8 |
| UTI Mutual Fund | 2,114.1 |
| Kotak Mutual Fund | 2,040.5 |
| Axis Mutual Fund | 1,648.1 |
| Aditya Birla SL Mutual Fund | 1,414.0 |
| Mirae Asset Mutual Fund | 1,332.3 |
| DSP Mutual Fund | 891.7 |
What India's Top Mutual Funds Bought and Sold in December 2023
SBI Mutual Fund
India's largest equity fund held Rs 6,129 bn in equities as of December 2023.
The top equity holdings of the fund include HDFC Bank, ICICI Bank, and Reliance Industries.
Here's what SBI Mutual Fund bought in December 2023.
ICICI Prudential Mutual Fund
ICICI Prudential Mutual Fund was the second largest equity fund house with Rs 3,570 bn in equities as of December 2023.
The top three equity holdings of ICICI Prudential Mutual Fund include ICICI Bank, HDFC Bank and Reliance Industries.
Here's what the fund bought and sold in December 2023.
HDFC Mutual Fund
Following ICICI Prudential Mutual Fund we have HDFC Mutual Fund with Rs 3,291 bn in equities as of December 2023.
The top five equity holdings of the fund include ICICI Bank, HDFC Bank, State Bank of India, Infosys, and NTPC.
Here's what HDFC Mutual Fund bought and sold in December 2023.
| New Buys | Value as on 31 December 2023 (Rs m) |
|---|---|
| DOMS Industries Ltd. | 5,325.00 |
| Sundaram-Clayton Ltd. | 719.40 |
| Happy Forgings Ltd. | 628.70 |
| Inox India Ltd. | 354.50 |
| Complete Sell | Value as on 30 November 2023 (Rs m) |
| Rolex Rings Ltd | 247.70 |
| Top Increase / Decrease in Stakes | Change in No. of Shares |
| Shyam Metalics And Energy Ltd. | 487,114 |
| Aditya Birla Fashion and Retail Ltd. | 319,363 |
| EIH Ltd. | 591,392 |
| Indiabulls Housing Finance Ltd. | -3,550,101 |
| Mphasis Ltd. | -100,328 |
| CreditAccess Grameen Ltd. | -260,338 |
| New Buys | Value as on 31 December 2023 (Rs m) |
|---|---|
| JK Tyre & Industries Ltd. | 808.10 |
| Azad Engineering Ltd. | 790.40 |
| AMI Organics Ltd. | 494.80 |
| DOMS Industries Ltd. | 396.10 |
| Inox India Ltd. | 320.90 |
| Fusion Micro Finance Ltd. | 311.60 |
| India Shelter Finance Corporation Ltd. | 230.70 |
| Innova Captab Ltd. | 192.80 |
| Happy Forgings Ltd. | 185.80 |
| Onward Technologies Ltd. | 23.70 |
| Jupiter Wagons Ltd. | 0.40 |
| Kama Holdings Ltd. | 0.20 |
| Complete Sell | Value as on 30 November 2023 (Rs m) |
| Orchid Pharma Ltd. | 153.30 |
| Tega Industries Ltd. | 136.50 |
| Uniparts India Ltd. | 10.00 |
| Indiabulls Real Estate Ltd. | 0.40 |
| Nocil Ltd. | 0.30 |
| Uflex Ltd. | 0.20 |
| Hikal Ltd. | 0.10 |
| IFB Industries Ltd. | 0.10 |
| Top Increase / Decrease in Stakes | Change in No. of Shares |
| Astrazeneca Pharma India Ltd. | 25,655 |
| TTK Prestige Ltd. | 1,137,195 |
| Kaynes Technology India Ltd. | 413,928 |
| Indiabulls Housing Finance Ltd. | -3,903,332 |
| JB Chemicals & Pharmaceuticals Ltd. | -465,688 |
| Go Fashion (India) Ltd. | -151,768 |
| New Buys | Value as on 31 December 2023 (Rs m) |
|---|---|
| Fusion Micro Finance Ltd. | 1,803.70 |
| JK Tyre & Industries Ltd. | 1,327.70 |
| DOMS Industries Ltd. | 518.70 |
| Inox India Ltd. | 320.90 |
| Happy Forgings Ltd. | 195.00 |
| Jupiter Wagons Ltd. | 0.10 |
| Kama Holdings Ltd. | 0.10 |
| Complete Sell | Value as on 30 November 2023 (Rs m) |
| Indiabulls Real Estate Ltd. | 0.10 |
| Nocil Ltd. | 0.10 |
| Heidelberg Cement India Ltd. | - |
| Hikal Ltd. | - |
| IFB Industries Ltd. | - |
| Uflex Ltd. | - |
| Top Increase / Decrease in Stakes | Change in No. of Shares |
| Bank Of India | 5,609,810 |
| IIFL Finance Ltd. | 403,361 |
| Sapphire Foods India Ltd. | 2,353,001 |
| Indiabulls Housing Finance Ltd. | -2,513,401 |
| Angel One Ltd. | -68,709 |
| Vodafone Idea Ltd. | -9,003,190 |
How the mutual fund buying and selling trend pans out in the month of January 2024 remains to be seen.
We will keep you updated on all the developments from this space.
Stay tuned.
As you're interested in what mutual funds are buying and selling, check out Equitymaster's Indian Stock Screener.
This tool tracks the stocks recently bought by mutual funds along with the stocks recently sold by them.
Happy investing!
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Details of our SEBI Research Analyst registration are mentioned on our website - www.equitymaster.comPS: The above piece relies on data from PersonalFN. PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.
Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...
Yash Vora is a financial writer with the Microcap Millionaires team at Equitymaster. He has followed the stock markets right from his early college days. So, Yash has a keen eye for the big market movers. His clear and crisp writeups offer sharp insights on market moving stocks, fund flows, economic data and IPOs. When not looking at stocks, Yash loves a game of table tennis or chess.
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