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    QONEQT in Stock Market Update

    13-Sep-2022 10:41 AM


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    MCX, Bharat Forge, Axis Bank among 40 stocks where MFs raised stake in a year

    Indian equities saw ferocious selling by foreign institutional investors (FIIs) amid the ongoing global economic concerns of crude and gas price hikes, rising inflation, and currency depreciation against the US dollar. Only in the first eight months of 2022 till August 31, FIIs have sold shares worth Rs 2.68 lakh crore in the Indian equity market.

    However domestic institutional investors (DIIs) led by mutual funds have stood firm and invested Rs 2.34 lakh crore in Indian equities. This strong inflow of liquidity provided by mutual funds (MFs) along with other DIIs and retail investors has absorbed the shock created by FII selling, which has led the Indian stock market to continuously outperform many global stock benchmarks.

    Data available with Ace Equity, BSE, and CMIE prowess showed that as many as 40 stocks, listed on BSE, where MFs have increased their stake by at least 3 per cent in the last one year. Many market watchers consider mutual funds or DII buying as a bullish signal for a stock selection and in the past stocks where MFs have increased their stake have performed really well, providing decent returns to investors.

    Gateway Distriparks has seen maximum mutual fund buying and their stake has reached to 32.17 per cent from zero per cent one year back (increased 32.17 per cent), followed by Rolex Rings, whose MF holdings rose to 21.8 per cent from 6.96 per cent (increased 14.84 per cent), Nuvoco Vistas Corporation with stake of 12.18 per cent from 0 per cent last year (increased 12.18 per cent), Max Healthcare Institute MF holdings of 19.2 per cent (increased 11.3 per cent) and Kalpataru Power Transmission MF holdings of 34.44 per cent (increased 9.7 per cent).
    Source: BusinessToday