Asian Paints, Adani Enterprises, Shriram Finance, Adani Ports, and Eicher Motors had the greatest month-on-month (MoM) net buying by mutual funds among the Nifty 50 companies in July 2024, according to Motilal Oswal data analysis. The significant growth in mutual fund holdings implies that investors are bullish about these companies.

In the Nifty Midcap 100, mutual funds were net buyers of 59% of the equities. Patanjali Foods, Mazagon Dock, Yes Bank, Godrej Properties, and Piramal Enterprises had the greatest average monthly net buying in July 2024.

In July 2024, mutual funds were net buyers of nearly 57% of the businesses listed in the Nifty Smallcap-100 index. The largest MoM net buying was observed in PNB Housing Finance, Himadri Speciality, GNFC, Manappuram Finance, and Intellect Design.

In July 2024, the stock market fluctuated dramatically, with some equities rising significantly while others fell.

Top gainers:

Infosys, ITC, L&T, ONGC, Maruti Suzuki, NTPC, Sun Pharma, TCS, HUL, and SBI were the top achievers, with the most month-on-month (MoM) rise in value.

Top Losers:

HDFC Bank, Reliance Industries, Axis Bank, Hindustan Aeronautics, Bajaj Finance, Tata Steel, Vodafone Idea, Hindalco Industries, HUDCO, and SKF India saw the greatest MoM value fall.

In July 2024, MFs expressed interest in Technology, Consumer, Healthcare, Utilities, Insurance, Real Estate, Infrastructure, and Chemicals, resulting in a MoM increase in their weights. In contrast, weights in Private Banks, NBFCs, Automobiles, Capital Goods, Oil & Gas, Telecom, PSU Banks, Metals, and Cement moderated month on month.

Private banks (16.1%) were the top sector holdings for mutual funds in July, followed by technology (8.9%), automobiles (8.7%), and capital goods (7.9%). The infrastructure, real estate, insurance, technology, and consumer sectors saw the greatest growth in value MoM.

Among the top 25 schemes by assets under management, the following had the biggest MoM rise. ICICI Pru Value Discovery Fund (+7% MoM change in NAV), HDFC Mid-Cap Opportunities Fund (+6.2% MoM), Nippon India Small Cap Fund (+6.1% MoM), SBI Long Term Equity Fund (+5.77% MoM), and Nippon India Growth Fund (+5.5% MoM).

• The technology sector had a large increase in allocation, accounting for 8.9% of total mutual fund investments. This is the second consecutive month of growth.

• The consumer sector also improved, reaching a seven-month high of 6.2% allocation.

• The healthcare sector experienced growth, increasing its allocation to 7.2%.

• The private banking sector suffered a significant fall, reaching a six-year low with a 16.1% allocation.