Mutual Funds and FPIs bought these stocks in January 2020

SUMMARY

Mutual funds (MF) were net sellers in energy, IT and financial services, while they bought ‘high beta’ sectors like telecom, private banks, consumer discretionary and utilities in January 2020, according to a report by ICICI Securities. Meanwhile, Foreign Portfolio Investors (FPI) bought and sold a mix of defensives and cyclicals. FPIs bought energy, IT, telecom and auto stocks while sold consumer staples, banks and utilities during the month.

By Ankit Gohel Feb 18, 2020 2:42:43 PM IST (Updated)

Mutual Funds buying was much higher in mid-cap stocks at Rs 2,200 crore and small-caps at Rs 1,300 crore versus large caps at Rs 700 crore. (Source: ICICI Securities)

Mutual funds buying was concentrated towards telecom and private banks while selling in energy sector was driven by redemptions in PSU ETFs, ICICI Securities said.

Mutual Fund flows remained towards 'high beta' stocks in January 2020, according to ICICI Securities report.

FPIs bought and sold a mix of defensives and cyclicals. FPIs bought Energy, IT, telecom, and auto while sold consumer staples, banks and utilities.

FPI flows into equity and debt further improved in February 2020 post-budget, the report added.

Risk assets outperformed in January 2020 but COVID-19 episode dampened spirits in February 2020, ICICI Securities said.