Overall, in the reporting month, mutual funds sold stocks worth Rs 5,100 crore while FIIs bought Rs 12,400 worth stocks in the secondary market, according to a report by Nuvama Institutional Equities.
On the retail side, equity flows in mutual fund schemes moderated to Rs 6,500 crore — a five-month low — mainly due to seasonality of a dull month.
SIP flows too moderated to Rs 13,700 crore in April from a record high of Rs 14,270 crore seen in March.
However, small- and mid-cap schemes continued to defy gravity as they received inflows of Rs 2,200 crore and Rs 1,800 crore, respectively. Collectively, this category garnered 61% of the total flows received in equity schemes, continuing the trend seen in the last one and half years.
In the mid- and small-cap space, mutual funds added RHI Magnesita, Nykaa, Crompton Greaves, Dixon Tech, Avalon Tech, CE Info Systems and CMS Info Systems to their portfolios.
Some key reductions in the broader market were Route Mobile, Graphite India and Stove Kraft.Mankind Pharma, which has come up with the largest public offer this year, has found favour among most of the fund houses. As many as 7 top domestic mutual funds have included the stock in their portfolio.
Reliance Industries, HDFC, Sun Pharma, Nestle India and Tata Motors featured as top additions in the Nifty pack for three consecutive months, whereas mutual funds cut stake in ITC, LIC and Bajaj Finserv for three straight months.
Sector-wise, mutual funds prefer banking stocks with nearly 22% ownership, followed by consumer and IT stocks at 15% and 12%, respectively.
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