Mutual Fund Houses Powered Up Their Holdings In This Sector In September
Power sector saw the most increase in holding, moving up by 0.70% in September, against 3.10% holding in the same month last year.
Indian investors' traction towards the sectoral and thematic category has been evident in the inflow that the category witnessed in September. With a Rs 34,419.26 crore inflow into actively managed equity this month, inflows worth Rs 13,254.6 crore were accounted for in the sectoral and thematic categories.
Sectors like power, retail and capital goods have seen an increase in holdings, while sectors like banking, finance and construction materials have slipped. As various sectors and themes work in cycles, mutual fund houses change their holdings of various sectors. Here are the sectors that saw the top movement in holding.
Fund Houses' Power Picks
In the month of September, the power sector saw the most increase in holding, moving up by 0.70%, against 3.10% holding last year. Sectors like retail and capital goods also increased by over 0.65% this month, compared to September 2023.
The holding in the retail sector had stood at 1.82% last year and increased to 2.48% holding this month. The capital goods sector also saw a decent climb in holdings, standing at 3.95% this year, compared to 3.31% in the previous year.
Automobiles and ancillaries saw a change in holdings of 0.64%, compared to holdings standing at 8.98% during September last year. The holdings in automobiles went up to 9.62% this September, as opposed to the 8.98% holding that AMCs had in the same month last year.
Holdings in telecom moved up by 0.56% this month, standing at 3.07% this year.
Sectors That Slipped In Holding
While sectors like power and capital goods saw an increase in holding, a few others saw a sharp slip in holding.
The banking sector saw a dip in holdings, moving down by 3.36% this year. The holding of the sector had stood at 21.90% last September and the current holding is recorded at 18.54%.
Other sectors like finance and construction materials saw softer slips. The finance sector saw a 0.55% reduction in holdings. The current holding of the construction materials sector by mutual fund houses was recorded at 2.07%, against the 2.53% allocation that it had in the previous year.
Chemicals saw a 0.35% drop in holdings, which came down to 2.78% this year, compared to the 3.13% last year. The IT sector also saw a reduction in holding of 0.30%, as the current holding is recorded at 9.55%.
