Fund managers favour bank stocks; allocation hits all time high

Mutual fund managers due to cheaper valuations have been bullish on banking shares. Their allocation to banking sector had reached an all-time high at the end of May, at over Rs 1.44 lakh crore.

When compared to the end of 2016, the figure stands at Rs 90,014 crore.

Given the elevated weightage to the index, managers cannot take a bearish stance on these stocks, thus banking continues to be the most preferred sector with fund managers.

Also recently, market regulator SEBI eased the takeover norms for stresses asset companies, this would further keep the sector in the limelight.

As per the latest data available by SEBI, overall, the allocation at the end of May 2017 was at Rs 1,43,704 crore as against Rs 1,34,596 crore in the preceding month.



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