MFs cut PSU bank exposure, raise bets on IT, auto & pharma in July

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Mutual fund managers reshuffled portfolios within blue-chip stocks in July, increasing exposure to select IT, auto and pharmaceutical names. Fund houses bought financial services plays including NBFCs and private sector lenders.

Read more: Which sectors attracted mutual fund interest in July? Check details

At the same time, they pared holdings in PSU names such as SBI, Bank of Baroda, Canara Bank, Indian Bank and Punjab National Bank amid a broader shift towards sectors offering better earnings visibility and stock-specific opportunities.

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