Equity MFs see inflow of Rs 2,506 crore in July; private banks, NBFCs find favour among funds

Rising markets and higher interest in equities saw Rs 2,506 crore flow into equity mutual funds in July as per AMFI data.

Banking and financial services continued to attract attention from fund houses. However, funds restructured their portfolio in favour of private banks and NBFCs. The top fi ve funds were buyers in State Bank of India, ICICI Bank and HDFC Bank, Max Financial and Bajaj Finance, and continued to sell their holdings in PSU banks like PNB, Allahabad Bank and Bank of Baroda.

The correction in Interglobe Aviation, post its quarterly results, provided an opportunity for funds to accumulate the stock. ADAG group stocks — Reliance Infrastructure and Reliance Capital — saw fresh buying. Stock-specific themes continued to dominate midcaps.

Stocks like Balkrishna Industries, KPIT Tech and Sintex entered MF portfolios, while Ajanta Pharma, Balaji Telefi lms, Amara Raja Batteries saw profit booking.