With key benchmark indices like Nifty and Sensex rising over 10%, fund managers decided to go defensive in April.
Overall, fund managers have favoured defensive sectors such as pharma, healthcare and insurance in April, shows the ICICI Direct report. Meanwhile, fund managers sold some of the financial stocks aggressively.
In the large cap space, Wipro, HDFC Life Insurance, HDFC AMC, Lupin, Aurobindo Pharma and UPL were among the most sought after stocks. Meanwhile, stocks of Bandhan Bank, Zee Entertainment Enterprises, JSW Steel and IndusInd Bank witnessed the highest selling.
|
Top 10 buys in large cap |
Apr (shares in lakh) |
Mar (Shares in lakh) |
Monthly increase |
|
Wipro |
1013 |
824 |
189 |
|
HDFC Life Insurance |
1019 |
906 |
113 |
|
Lupin |
538 |
478 |
60 |
|
Aurobindo Pharma |
724 |
670 |
54 |
|
UPL |
364 |
321 |
43 |
|
Hero MotoCorp |
181 |
161 |
20 |
|
Colgate-Palmolive (India) |
111 |
102 |
9 |
|
HDFC Asset Management Company |
20 |
17 |
3 |
|
Eicher Motors Ltd. |
27 |
24 |
3 |
|
Piramal Enterprises |
9 |
8 |
1 |
|
Top 10 sells in large cap |
Apr (shares in lakh) |
Mar (Shares in lakh) |
Monthly decrease |
|
Bandhan Bank |
299 |
437 |
138 |
|
Zee Entertainment Enterprises |
329 |
445 |
116 |
|
JSW Steel |
442 |
510 |
68 |
|
IndusInd Bank |
643 |
730 |
87 |
|
Godrej Consumer Products |
168 |
190 |
22 |
|
Siemens |
116 |
127 |
11 |
|
Tech Mahindra |
746 |
820 |
74 |
|
Dabur India |
532 |
581 |
49 |
|
Bajaj Finserv |
60 |
64 |
4 |
|
Asian Paints |
401 |
433 |
32 |
In the mid cap space, stocks like Steel Authority Of India, Jindal Steel & Power, Manappuram Finance, Adani Power and Endurance Technologies were among the top picks. Meanwhile, RBL Bank, Mahindra & Mahindra Financial Services, Future Retail, Nippon Life India Asset Management and L&T Finance Holdings witnessed the highest selling.
|
Top 10 buys in mid cap |
Apr (shares in lakh) |
Mar (Shares in lakh) |
Monthly increase |
|
Steel Authority Of India |
1731 |
1559 |
172 |
|
Jindal Steel & Power |
815 |
720 |
95 |
|
Manappuram Finance |
685 |
600 |
85 |
|
Adani Power |
399 |
363 |
36 |
|
Endurance Technologies |
114 |
81 |
33 |
|
Trent |
445 |
417 |
28 |
|
Alembic Pharmaceuticals |
102 |
94 |
8 |
|
Page Industries |
11 |
9 |
2 |
|
CRISIL |
13 |
11 |
2 |
|
Godrej Industries |
13 |
12 |
1 |
|
Top 10 sells in mid cap |
Apr (shares in lakh) |
Mar (Shares in lakh) |
Monthly decrease |
|
RBL Bank |
712 |
1018 |
306 |
|
Mahindra & Mahindra Financial Services |
673 |
755 |
82 |
|
Future Retail |
218 |
264 |
46 |
|
Nippon Life India Asset Management |
183 |
222 |
39 |
|
L&T Finance Holdings |
77 |
108 |
31 |
|
Thermax |
159 |
188 |
29 |
|
Shriram Transport Finance Company |
28 |
39 |
11 |
|
NIIT Technologies |
32 |
39 |
7 |
|
PNB Housing Finance |
57 |
64 |
7 |
|
Indian Railway Catering & Tourism Corpn |
27 |
33 |
6 |
In the small cap segment, Engineers India, Aster DM Healthcare, Cyient and Metropolis Healthcare were among the most sought after stocks. On the other hand, Equitas Holdings, Gujarat Mineral Development Corporation and JB Chemicals & Pharmaceuticals witnessed the highest selling.
|
Top 10 buys in small cap |
Apr (shares in lakh) |
Mar (Shares in lakh) |
Monthly increase |
|
Engineers India |
1240 |
1136 |
104 |
|
Aster DM Healthcare |
274 |
245 |
29 |
|
Cyient |
246 |
219 |
27 |
|
Metropolis Healthcare |
47 |
29 |
18 |
|
Westlife Development |
193 |
175 |
18 |
|
CCL Products (India) |
116 |
99 |
17 |
|
Welspun Corp |
131 |
115 |
16 |
|
Rites |
139 |
124 |
15 |
|
Dilip Buildcon |
93 |
85 |
8 |
|
Godfrey Phillips India |
12 |
10 |
2 |
|
Top 10 sells in small cap |
Apr (shares in lakh) |
Mar (Shares in lakh) |
Monthly decrease |
|
Equitas Holdings |
949 |
1079 |
130 |
|
Gujarat Mineral Development Corporation |
178 |
235 |
57 |
|
JB Chemicals & Pharmaceuticals |
58 |
102 |
44 |
|
Chennai Petroleum Corporation |
152 |
179 |
27 |
|
Quess Corp |
191 |
214 |
23 |
|
The Karnataka Bank |
121 |
142 |
21 |
|
Century Textiles & Industries |
129 |
146 |
17 |
|
Sobha |
112 |
127 |
15 |
|
Indostar Capital Finance |
97 |
110 |
13 |
|
BEML |
84 |
95 |
11 |
In April, Indian equities showed signs of recovery with benchmark equity indices Nifty 50 and Sensex gaining 15% each during the month. Meanwhile, inflows to equity funds declined to Rs 6,212 crore from Rs 11,700 crore in March and SIP inflows moderated to Rs 8,376 crore as against Rs 8,641 crore in March.
