SBI MF buys corporate banks & energy shares after March selloff

Published On: Thursday, April 16, 2020 | By: Team KnowMyStock

SBI Mutual Fund, went all out to buy shares of corporate banks in March, as valuations came down to historic lows amid the market mayhem. The biggest addition to the portfolio in March was the State Bank of India, as the money manager bought 3.62 crore shares of the country’s largest lender. SBI MF also added 2.77 crore shares of ICICI Bank, 1.84 crore shares of Axis Bank and 1.55 crore shares of HDFC Bank. SBI MF’s other major buys included 2.63 crore shares of Indian Oil, 2.62 crore shares of ITC, 1.72 crore shares of GAIL, 1.38 crore shares of NTPC and Coal India each. Energy stocks have seen a lot of activity recently after crude oil prices crashed to nearly 30-year lows due to price war among global oil producers.

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MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

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MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

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MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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