Indian mutual funds actively rebalanced their portfolios in April 2026, offloading significant stakes in several prominent companies while making substantial fresh investments in others, according to recent AMFI data.
Stocks Mutual Funds Sold in April
During April, several major companies found themselves on the mutual fund 'sell radar'. Wipro Ltd. saw a notable reduction, with domestic funds selling 12 crore shares valued at approximately Rs 2,400 crore. HDFC Bank Ltd. also experienced significant selling pressure, as MFs trimmed their holdings by 2.80 crore shares, amounting to Rs 2,200 crore.
- Hindalco Ltd.: Saw MFs sell shares worth Rs 2,000 crore.
- Bajaj Auto Ltd.: Holdings were reduced by 20 lakh shares month-on-month, equating to a net sale of Rs 1,600 crore.
- NTPC Ltd.: Experienced selling to the tune of Rs 1,100 crore.
Other companies that saw up to Rs 900 crore in MF selling included Avenue Supermarts Ltd (D-Mart), Asian Paints, Vedanta Ltd., GAIL, Jio Financial Services (JFS), Lupin, Power Grid, and Tata Motors Passenger Vehicles Ltd (Tata Motors PV).
Key Buys by Mutual Funds
Conversely, mutual funds demonstrated strong buying conviction in several banking and IT sector heavyweights. ICICI Bank Ltd. emerged as a top pick, with MFs upping their stakes to 204.20 crore shares from 197.60 crore shares, representing a net buy of Rs 8,300 crore.
- State Bank of India (SBI): Attracted MF buying worth Rs 4,300 crore.
- Kotak Mahindra Bank Ltd.: Saw Rs 2,300 crore in MF buying.
- Infosys Ltd.: Received fresh investments totaling Rs 2,100 crore.
- Poonawalla Fincorp Ltd.: Witnessed MF buying worth Rs 1,600 crore.
Additional companies that saw increased mutual fund interest include Eternal Ltd. (an online food delivery platform, Rs 2,100 crore), Varun Beverages, Hindustan Aeronautics Ltd (HAL), Delhivery Ltd., SAIL, Cipla, and Maruti Suzuki India.
Nuvama analysts noted that while overall flows moderated marginally in April, investor participation remained broad-based across diversified and SMID (Small and Mid-cap) categories. This resilience highlights a growing maturity among domestic investors, who are increasingly utilizing market volatility and valuation corrections as opportunities for systematic allocation rather than reacting to short-term swings.