LIC, ITC to Axis Bank: Mutual funds bullish on these large-cap stocks. Should you buy any of these? | Stock Market News
Even though inflows into equity mutual funds declined 14 per cent month-on-month to ₹35,943.49 crore in November against ₹41,886.69 crore in October, fund houses continued to add large-cap stocks such as Life Insurance Corporation of India (LIC), ITC, Hindustan Unilever (HUL), Larsen & Toubro (L&T), and Axis Bank for the third consecutive month, reflecting their long-term bullish stance on these stocks.
Brokerage firm Nuvama Wealth Management, in its mutual fund portfolio analysis report for the month of November, highlighted that LIC, ITC, HUL, L&T and Axis Bank were among the key additions by fund houses for three consecutive months.
Inflows to equity mutual funds declined over 14 per cent month-on-month in November due to market correction amid concerns over weak September quarter earnings, stretched valuations, foreign capital inflow amid rising dollar index and US bond yields and escalating geopolitical tensions. However, the magnitude of the fall subsided as equity benchmark Nifty 50 declined 0.30 per cent in November after an over 6 per cent fall in October. Nifty 50 is up about 2 per cent in December so far.
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