Photo: Madhu Kapparath/MintMumbai: Mutual funds flocked to financial stocks in September attracted by their growth prospects even as they sold metal and retail stocks to cash in on the recent rally in these sectors. According to data from Value Research, six out of 10 large-cap stocks bought most by mutual funds in September were financials. Metal producers and retail chains figured were among the most-sold large cap stocks as asset managers locked in gains after the recent rally in the pack. Avenue Supermarts Ltd, which runs retail chain D-Mart, was the seventh most-sold stock by mutual funds last month, at Rs126.30 crore. “Profit-booking seems to have been triggered for metals and retail-focused stocks, as asset managers trimmed some positions there,” said Agrawal of Tata.

Source: Mint October 22, 2017 19:07 UTC