Top domestic fund houses took note of the political stability post-election results and lapped up shares in many perceptibly contrarian bets in May, hoping for a recovery in the battered sectors such as telecom, power, pharma and metals.
Select auto ancillary and bank stocks also attracted institutional money during month.
Total assets under management (AUM) of the mutual fund industry stood at Rs 25.43 lakh crore at the end of May, up from Rs 25.27 lakh crore in April end.
