ICICI Bank and HDFC Bank are the top picks of fund managers

By Ravi Samalad |  19-10-21 | 
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About the Author
Ravi Samalad is Assistant Manager - Editoral for Morningstar.in.

Financial services stocks remained the top pick for most fund managers. Among the top ten stocks held by fund managers across the mutual fund industry, four were banks. This is because the financial services sector accounts for the highest weightage (30%) in BSE 500 Index.

Popular Stocks

The most widely held stock was ICICI Bank. ICICI Bank was held by the highest number of schemes (508) with a market value of Rs 1.04 lakh crore as of September 2021. These 508 schemes collectively added 75.84 lakh shares in September 2021.

HDFC Bank was the second most widely held stock (487 schemes) which was worth Rs 1.05 lakh crore as of September 2021. These 487 schemes added 1.01 crore shares in September 2021.

The third most widely held stock was also from the banking sector. SBI Bank was held by 436 schemes which were worth Rs 50,710 crore as of September 2021. These 436 schemes sold 19.41 lakh shares of SBI Bank in September 2021.


Most Bought Stocks

Ashok Leyland was the most bought stock in September 2021. A total of 152 funds bought 5.69 crore shares of the company. These schemes collectively held Rs 5,411 crore worth shares of Ashok Leyland as of September 2021.

Power Grid Corp Of India Ltd was the second most bought stock. A total of 169 funds bought 4.32 crores shares of the company. As of September 2021, these schemes collectively owned Rs 10,895 crore worth shares of Power Grid Corp.


Most Sold Stocks

Bharti Airtel, which was owned by 387 stocks, was the most sold stock. MFs sold 6.02 crore shares of the telecom company in September 2021. Similarly, Hindalco was the second most widely sold stock. Hindalco was owned by 232 schemes, which collectively sold 1.43 crore shares.

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