SBI MF sold shares worth Rs 1,736 crore bringing its holding to 2.92%, while UTI MF sold shares worth Rs 508 crore. Meanwhile, Nippon MF and HDFC MF sold shares worth Rs 302 crore and Rs 205 crore, respectively, reducing its holding in Jio Financial Services to 4.6% and 2.3%.
Others, which reduced their holding in the company include Bandhan MF (Rs 51 crore), DSP MF (Rs 5 crore), Franklin Templeton MF (Rs 54 crore). Franklin Templeton MF completely exited the stock.
On the other hand, Axis MF bought JFSL shares worth Rs 108 crore, taking its holdings to 7.3%.
The stock was added to key indices on July 20 for a temporary period at a constant price of Rs 261.8. It has now been removed from Nifty and S&P BSE Sensex.
On September 4, the stock made a high of Rs 266.95 on the NSE and was trading at a discount of 15% from its peak.
After witnessing inflows for two straight months, the mutual fund industry saw net outflows in September, as the selling in debt funds outpaced the buying in equity funds. Open-ended debt funds saw net outflows to the tune of Rs 1.02 lakh crore in September, whereas equity funds saw net inflows of Rs 14,091 crore. This was the 31st consecutive month of net inflows for equity-oriented funds.While equity funds witnessed inflows, it was lower than the inflows worth Rs 20,245 crore seen in August.
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