Mutual funds turned more tactical in April, rotating into capital goods, capital market-linked companies and non-banking financial firms, while trimming exposure to information technology, healthcare and private sector banks. The shift came as fund managers appeared to chase sectors benefiting from improving domestic momentum, while locking in gains in areas that had seen strong outperformance.
Real estate, power and FMCG stocks outperformed the NSE 500 during the month, reinforcing a broader tilt toward domestic cyclicals and defensives.
Large-Caps: Financials and Consumption In Focus
Among large-cap stocks, mutual funds increased holdings in ICICI Bank, Eternal, State Bank of India, Adani Ports and Special Economic Zone and Maruti Suzuki India.
On the selling side, funds pared stakes in Reliance Industries, Wipro, Bajaj Auto, NTPC and Jio Financial Services.
Mid- and Small-Caps: Selective Opportunities
In the mid-cap universe, mutual funds added Poonawalla Fincorp, United Spirits, ITC Hotels, Suzlon Energy and Aurobindo Pharma, while reducing exposure to GE Vernova T&D India, Persistent Systems, Mahindra & Mahindra Financial Services, Lupin and Bharat Forge.
Among small-caps, buying was concentrated in Indraprastha Gas, Delhivery, Angel One, PNB Housing Finance and Navin Fluorine International. Selling was seen in Manappuram Finance, Vardhman Textiles, JB Chemicals, Kirloskar Engineering and Kajaria Ceramics, indicating selective profit booking across financials, textiles and industrial names.
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