2017 has been bumper season for markets with Sensex spiraling its way beyond 29,000 mark and Nifty crossing 9200.
The mega rally rode on abundance inflow from both global as well as domestic investors who poured in close to Rs 30,000 crore in January-March period.
However, now it might be wise to exert caution. Mutual funds managers have dumped names like Axis Bank, Divi’s Lab, Coal India, TCS, and several other big names, according to recent IDBI Capital report.
Mutual funds exit stocks either to book profits or when current valuations are high vis-à-vis company fundamentals. Either way, it would help to watch out and invest when it comes to the these names.