Mutual Funds Pour Rs 19,200 Crore into Top Stocks in Volatile June
Mutual funds showed strong confidence in Indian equities during a volatile month. In June, they directed Rs 19,200 crore toward five major companies: Bajaj Finance, HDFC Bank, JSW Infra, ACME Solar Holdings, and NHPC.
JSW Infra led the pack with massive inflows. Domestic funds bought an additional 14.50 crore shares, pouring in Rs 4,700 crore. Bajaj Finance followed closely with nearly Rs 4,700 crore in fresh investments. Mutual funds increased their holding in the NBFC by 4.6 crore shares, taking the total to 60 crore shares.
HDFC Bank secured the third spot with Rs 4,100 crore inflows. Funds added 5.2 crore shares and now hold 389.9 crore shares in the banking giant.
ACME Solar Holdings attracted Rs 3,000 crore, while NHPC saw Rs 2,700 crore in mutual fund buying. These inflows highlight continued interest in infrastructure, renewable energy, and financial services.
Other notable purchases included Mahindra & Mahindra and Meesho at Rs 2,500 crore each. Eternal received Rs 2,000 crore, followed by Coal India at Rs 1,900 crore, Lenkart Solutions at Rs 1,800 crore, and Hindustan Unilever at Rs 1,500 crore. Bajaj Auto, InterGlobe Aviation, Sammaan Capital, and ICICI Pru AMC also drew around Rs 1,000 crore each.
Overall Equity Fund Flows Rebound
Equity-oriented mutual funds recorded net inflows of Rs 29,000 crore in June. This marks a healthy rebound from Rs 22,900 crore in the previous month. Domestic institutional investors remained strong with $8.7 billion inflows. Meanwhile, foreign portfolio investors recorded outflows for the fourth straight month.
On the selling side, mutual funds trimmed positions in several stocks. They offloaded Asian Paints and ICICI Bank by Rs 1,700 crore each. State Bank of India saw selling worth Rs 1,600 crore. L&T, BSE, and BHEL also witnessed reduced exposure between Rs 1,200 crore and Rs 1,300 crore.
Experts noted broad-based participation across categories. Midcap, Smallcap, Flexicap, and Large & Midcap funds attracted solid inflows. This reflects renewed retail investor interest despite global uncertainties and mixed foreign flows.
Nuvama Institutional Equities highlighted the positive trend. The firm stated that the pickup in inflows shows growing investor confidence in Indian equities.
June proved challenging with the Nifty swinging over 1,191 points. Yet the index still closed 318 points higher. Mutual fund activity suggests domestic investors continue to back quality companies for the long term.