Mutual funds bought IT stocks, sold financials in September ahead of earnings season

As the results season came knocking on the door, leading mutual fund houses in India were seen piling up shares of information technology (IT) firms in the month of September. Almost all fund houses bought at least one of the leading IT sectors players in the previous month, data sourced by Edelweiss Research showed. Among the top ten most bought stocks in the month, four were from the IT sector. IT shares are the hot favourite on Dalal Street as investors look to bank on the expected surge in adoption of digital trends across the globe.

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