MFs invested funds worth Rs. 202.84bn in software stocks

India Infoline News Service | Mumbai |

The mutual funds invested Rs. 202.84 billion in software and IT stocks, while the pharma sector accounted for Rs 124.44 billion in August

Asset management companies (AMCs) exposure to the banking sector has declined Rs. 227.44 billion as on 31st August, which is the lowest level in four years, according to SEBI (Securities and Exchange Board of India) data.

The mutual fund (MF) industry’s investment in banking stocks worth Rs. 227.44 billion comprised 15.7% of the total equity assets under management (AUM) of Rs 1.45 trillion in August.

In August, the BSE Bankex Index fell almost 10%, while the S&P BSE Sensex decreased 3.75%.

The mutual funds invested Rs. 202.84 billion in software and IT stocks, while the pharma sector accounted for Rs 124.44 billion in August.

The mutual fund investments in consumer non-durables stood at Rs. 107.71 billion, whereas petroleum products contributed Rs. 89.58 billion.
 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.