In April 2023, mutual funds in India made substantial investments totaling ₹30,600 crore (approximately $3.7 billion USD) in the secondary market, as reported by Nuvama Alternative & Quantitative Research. The largest purchases included ICICI Bank with ₹8,300 crore, followed by State Bank of India (SBI) at ₹4,300 crore and Sun Pharma at ₹2,600 crore. Conversely, mutual funds reduced their holdings in Wipro by ₹2,400 crore, HDFC Bank by ₹2,200 crore, and Hindalco Industries by ₹2,000 crore.

In the midcap segment, notable purchases included ITC Hotels which saw an investment of ₹700 crore, while Poonawalla Fincorp and Delhivery also attracted significant investments. The smallcap segment witnessed strong buying in RBL Bank and Indraprastha Gas, while Manappuram Finance and GE Shipping Co were among the highest sold stocks. This report reflects ongoing trends in mutual fund management, showcasing strategic shifts in portfolio allocations across various market segments.