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Stocks: Banks, Auto and IT Top buys by fund managers in May

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Large mutual funds buy shares of lenders, automobile manufacturers and select stocks This Companies in May as they stuck to the beat shares Amid uncertainty over the near-term market outlook.

In May, the Nifty fell 3%, partly due to selloff in IT stocks that are down an average of 20-25% from their highs. some fund manager Lower price levels are used to buy stocks such as

And .

Fund managers also bought underperforming auto like stock

and Mahindra & Mahindra where growth has been muted due to chip shortages, and the revival in demand has been relatively subdued.

Fundagencies

Huge banks Buying at cheap valuations has also been seen. Some fund managers also bought into select companies that have gained market share and are seen as top gainers of reopening trades.

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