Smallcap stocks have been in focus in the recent market rally as they have been witnessing strong buying action in the past few months. The BSE Smallcap index is up nearly 14% in last one month while the Nifty smallcap 100 index is up around 12% in a month.
A report by ICICI Direct sharing the mutual fund activity showed top buy/sell in smallcap across AMCs (asset management companies) that mutual funds bought/sold during May 2021.
The top 10 buys in smallcap by mutual funds includes companies like TCNS Clothing Co Ltd, TV18 Broadcast, Magma Fincorp, Sundaram Finance Holdings. The list compiled by ICICI Direct also includes Solara Active Pharma Science, Butterfly Gandhimathi Appliances, E.I.D. Parry (India), Avanti Feeds, Lux Industries and Poly Medicure.
Coming to the top 10 sells in the smallcap space by mutual funds, the list includes companies like Gufic Biosciences, Sterling and Wilson Solar, Praj Industries, Shilpa Medicare. MFs also sold Happiest Minds Technologies, NLC India, PTC India, Saregama India, Prince Pipes & Fittings, Valiant Organics stocks during May 2021.
Inflows into equity funds continued for a third consecutive month and came higher in May at ₹10,083 crore compared to ₹3,400 crore in April. The Small Cap Fund category under the scheme witnessed ₹1,080 crore worth inflows in May as compared to ₹184 crore in April 2021, monthly data by Association of Mutual Funds in India (AMFI) showed.
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