Mutual funds stay cautious in November, private banks, NBFCs top picks

Mutual fund managers adopted a relatively cautious approach in November, with the benchmark indices touching all-time highs, while the broader market struggled to keep pace with the blue chips. 126028422Private banks and NBFCs were among the top sector picks of the largest fund houses as they expect these to benefit from improving liquidity conditions. Fund managers added HDFC Bank, ICICI Bank, RBL Bank, Shriram Finance, L&T Finance, and M&M Financial. IT blue chips such as Infosys and TCS also saw buying interest from fund houses.