Mutual Fund offload shares worth $1.2 bn
"Cement saw an increase in its underweight due to inclusion of Ultratech in Nifty resulting an increase in sector weightage in the index. Underweight in metals and
mining reduced due to exclusion of Sail etc from Nifty index thereby reducing the sector weightage in the index," the report said.
Interestingly, FIIs infused a net amount of about Rs 40,000 crore in the entire Indian stock market in July-September period on the back of a slew of reforms initiated by the government, pushing the broader market Sensex to surge over 1,300 points or more than seven per cent.
In terms of sectors, the domestic mutual funds sold shares valued at USD 231 million in the consumer sector followed by finance portfolio (USD 224 million), metal and mining (USD 182 million), auto (USD 140 million), telecom (USD 118 million) software (USD 92 million), the report said.
In contrast, mutual funds investment in the other sector stood at USD 41 million, followed by USD 18 million in the cement category, USD 9 million in the rela estate space.
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