Indian MFs Rebalance Portfolios as Nifty 50 Gains
By Market Desk
India’s top mutual funds, including SBI, ICICI Prudential, and HDFC, rebalanced portfolios in July 2026 following a 2.17% gain in the Nifty 50 index.
Indian stock markets experienced a robust recovery in July 2026, marked by a 2.17% gain in the Nifty 50 index. This upward movement coincided with India’s leading asset management companies (AMCs) undertaking substantial portfolio adjustments.
Major AMC Portfolio Shifts
Domestic equity funds saw their overall assets under management (AUM) increase by 2.7% month-on-month, reaching ₹41.8 trillion. All three major AMCs reported an increase in the equity value of their funds during this period.
SBI Mutual Fund’s equity value rose by 2.3%, ICICI Prudential Mutual Fund by 3.1%, and HDFC Mutual Fund by 3.5%, reflecting the broader market uplift.
SBI Mutual Fund’s Strategic Moves
SBI Mutual Fund, managing an AUM of ₹9.21 trillion, executed significant buying and selling activity in July.
- Top Buys: Bajaj Finance (₹2,634 crore), Adani Enterprises (₹2,386 crore), HDFC Bank, Coforge, and Swiggy.
- Top Sales: Reliance Industries (₹1,016 crore), ICICI Bank, Ather Energy, GAIL, and Muthoot Finance.
- New Additions: INDO-MIM and GSPL Transmission.
- Complete Exit: Restaurant Brands.
ICICI Prudential AMC’s Sectoral Focus
ICICI Prudential AMC, with an AUM of ₹7.43 trillion, prioritized banking stocks while reducing exposure to the IT sector.
- Top Buys: Kotak Mahindra Bank (₹2,100 crore), SBI (₹1,400 crore), Biocon, Cummins, and M&M.
- Top Sales: Infosys (₹3,200 crore), TCS (₹1,800 crore), HCL Technologies, Sun Pharma, and Info Edge.
- New Entrants: SBI Funds Management and GSPL India Transco.
- Fully Exited: Procter & Gamble Health.
HDFC AMC’s Key Realignments
HDFC AMC, the third-largest with ₹6.27 trillion AUM, focused its purchases on select Adani Group entities and other key stocks.
- Top Buys: Adani Enterprises (₹800 crore), Adani Green Energy (₹500 crore), Sun Pharma (₹900 crore), Havells, and SBI Funds Management.
- Top Sales: Bajaj Auto (₹1,300 crore), Reliance Industries (₹500 crore), Power Grid, Infosys, and Piramal Pharma.
- New Addition: Diamond Power Infra.
- Complete Exit: Nilkamal Ltd.
The active rebalancing by these major mutual funds underscores a strategic realignment of portfolios, driven by specific stock opportunities amidst a recovering market sentiment in India during July 2026.