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Among the bluechip stocks, mutual funds favoured private banks, shows data from Morningstar. The most bought stocks by mutual fund houses include Axis Bank, HDFC Bank, NTPC, Reliance Industries, NTPC, L&T, ICICI Bank, Kotak Mahindra Bank, HDFC, ITC and IndusInd Bank.
BSE Bankex index is 21% up year to date. Axis Bank is up 19%, HDFC Bank has gained 18%, ICICI Bank is up 49%, Kotak Mahindra Bank has gained 37% YTD.
Reliance Industries, another favourite stock of mutual fund houses and the biggest stock by market capitalisation, has gained over 39% in the current year so far. HDFC, another favourite, has given 21%.
However, some top stocks have given negative returns as well. NTPC is down by 7%, IndusInd Bank by -6%, L&T is down -8.6% and ITC is down by -15%.
A look at the indices movement and the returns justify fund managers’ interest in large caps in 2019. BSE Sensex comprising the 30 largest companies delivered 14% returns in 2019 so far. BSE Nifty 50 gave 10%. However, BSE Midcap index was down by 4% in the current calendar year so far. BSE Smallcap index is down -9% from the beginning of the year till date.
You can see the indices movement in the chart given below and compare the performances.
Year to date indices movement indexed to 100 for comparison.
Source: BSE
One of the top 10 stocks sold by mutual fund houses were Tata Steel, the country’s largest steel maker, which is down by 16% year to date. The company is fighting with lower revenues amid higher debt burden.
Other top sold stocks include agrochemical firm, UPL Limited, which is up 15% YTD. Info Edge is up 81%, Maruti Suzuki (-4%), Indian Hotels ( 1.56%), Wipro (-1%), Havells India (-7% down), InterGlobe Aviation (Indigo) is up 13%, Titan Company (25% up) and Muthoot Finance has gained 39% YTD.
The table below shows the total value of top stocks bought and total worth of top stocks sold by the mutual fund houses.
Top 10: Most bought stocks in 2019
| Stock |
Bought worth (Rs crore) |
| Axis Bank | 11,896 |
| HDFC Bank | 8,939 |
| NTPC | 8,410 |
| Reliance Industries | 8,132 |
| Larsen & Toubro | 7,482 |
| ICICI Bank | 6,794 |
| Kotak Mahindra Bank | 4,750 |
| Housing Development Finance Co | 4,483 |
| ITC | 4,357 |
| IndusInd Bank | 3,543 |
Top 10: Most sold stocks in 2019
| Stock | Sold worth (Rs crore) |
| Tata Steel | (4,008) |
| UPL | (2,263) |
| Info Edge (India) | (2,003) |
| Maruti Suzuki India | (1,661) |
| Indian Hotels Co | (1,382) |
| Wipro | (1,216) |
| Havells India | (1,067) |
| InterGlobe Aviation | (1,047) |
| Titan Company | (974) |
| Muthoot Finance | (935) |
Source: Morningstar India
Mutual fund industry touched record breaking total assets worth Rs 27.05 lakh crore as on November 30, 2019. Total AUM of the industry grew by over 18% in 2019 in the 11 months gone by so far. The industry added net assets worth Rs 4.19 lakh crore in 2019 till November end.
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