Mutual Funds increased their holdings in Trent, Eicher Motors, Tata Steel and Bharat Electronics among others in September. Meanwhile, mutual funds cut their holdings in companies like Adani Enterprises, Tata Motors and NTPC.

What Happened: Among the Nifty 50 basket, mutual funds increased their holdings in Tata’s retail arm Trent the most, according to data from Motilal Oswal.

Trent saw the highest month-on-month net buying, with mutual funds increasing their holdings by 10.6% to 2.95 crore shares, worth ₹22,370 crore.

Mutual funds also upped their stake in IndusInd Bank by 7.4% from last month to 15.64 crore shares. Holdings in Eicher Motors were close behind as mutual funds hiked their holdings in the firm by 7.1% to 2.57 crore shares.

See Also: Mutual Funds Pick Up RVNL, Mazdock, IREDA Shares In Q2, Dump Yes Bank, CDSL

Mutual funds were net buyers in 70% of the Nifty 50 stocks. Bharat Electronics, BPCL, ONGC and Coal India were some of the public sector firms that saw mutual funds’ holdings increase during the month.

Bharat Electronics saw mutual funds increase their holdings by 4.1%, while holdings in BPCL increased by 4%. ONGC net monthly buyers jumped by 1.1% and mutual funds’ holdings in Coal India rose marginally by 0.5%.

On the other hand, Adani Enterprises and Tata Motors were the top losers. Mutual funds slashed their holdings in Adani Enterprises by 4.4% whereas Tata Motors saw its holdings decrease by 3.3%.

In September 2024, mutual funds increased their investments in private banks, metals, retail, automobiles, consumer goods, utilities and consumer durables, resulting in a month-over-month rise in their weights. In contrast, technology, oil and gas, capital goods, healthcare and public sector banks experienced month-over-month declines in their weights.

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