What stocks is Merrill Lynch betting on?

Merrill Lynch has come out with a report which states their 'over-owned and under-owned stocks.' CNBC-TV18 gives an insight on it.

The firm is overweight on financials, industrials, consumer, auto and metal stocks. In their FII portfolio, they are underweight on energy and software.

In the FII portfolio, UTI Bank and Tata Steel were replaced by Bharat Forge and ACC. In their MF portfolio they are overweight on software, consumer staples, pharma and metal sectors, but underweight on financials, auto and energy sectors.

The top bought stocks in terms of value in the FII portfolio are ICICI Bank ($523 million), Bajaj Hindustan ($220 million), Gammon ($159 million), HDFC ($142 million) and McDowell ($140 million).

Whereas the top sold are RIL ($515 million), Infosys ($210 million), Maruti ($66 million), Jet Airways ($64 million) and TCS ($61 million).

In their MF portfolio the top bought stocks were Infosys ($165.9 million), ITC ($87.9 million), PNB ($69.6 million), Hindalco ($68.8 million) and L&T ($60.5 million). Whereas the top sold stocks were ICICI Bank ($206.7 million), ONGC ($72.6 million), I-Flex ($71.7 million), HDFC Bank ($9.9 million) and M&M ($47.6 million).

Between January and March, the midcaps that they hold in their FII portfolio are Ashok Leyland, Arvind Mills, Matrix Lab, M&M and Bank of Baroda.

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