Banking News

Data Drive: MFs lean on banks, tech

In October, mutual funds showed interest in sectors such as banks, technology, oil and gas, capital goods and utilities, which led to a month-on-month increase in their weights.

In contrast, they reduced the weights for sectors such as consumer, non-banking finance companies, automobile, healthcare, retail. Private banks were the top-sector-holding for mutual funds at 18.5% in October, followed by technology at 10%.

Also read: Emerging technologies: How AI is applied is of the essence

Sectors such as cement, insurance, metals saw no month-on-month change in allocation.

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