Sectors
Which sectors mutual funds are adding to and trimming, and how sector and thematic funds have returned.
Sectoral and thematic funds: reward, risk or marketing?
02 Oct 2026
Over three years to October 2026, sector fund returns ran from −4.4% to 36% a year. Pharma funds led at a 20.8% median; technology trailed at 4.9%.
Investing StrategyFund ReturnsSectors
Technology funds: 9 of 11 are down over the year
02 Oct 2026
Nine of 11 technology and digital funds lost money in the year to 1 October 2026; the median fell 8.19%. 3 and 5-year returns, falls and innovation funds.
Fund ReturnsSectorsBank stocks in mutual funds: 17% of equity money
01 Oct 2026
Equity funds held ₹6.34 lakh crore in Indian banks on 31 August 2026, 17.06% of their shares. ICICI Bank and HDFC Bank alone were 48% of it.
Portfolio HoldingsSectorsIT stocks in mutual funds: 5.4% of equity money
01 Oct 2026
Equity funds held ₹2,02,030 crore in Indian IT companies on 31 August 2026, 5.43% of their shares. Coforge outweighed TCS; Wipro was in just 19 schemes.
Portfolio HoldingsSectorsPharma and healthcare stocks in mutual funds: 10%
01 Oct 2026
Equity funds held ₹3,73,711 crore in Indian pharma and healthcare companies on 31 August 2026, 10.05% of their shares. Mid caps held the most.
Portfolio HoldingsSectors
Sector mix: large-cap vs mid-cap vs small-cap funds
01 Oct 2026
Large-cap funds had 26.16% in banks on 31 August 2026; small-cap funds 7.17%. Small caps lean on industrial products and auto parts instead. The full split.
SectorsPortfolio Holdings
Nifty India Defence P/E at 60, three times the Nifty 50
09 Sep 2026
Nifty India Defence closed at a record 9,998.70 on 8 September 2026 at a P/E of 60.34, higher than on 93% of days since 2022 and 3.02 times the Nifty 50's.
Market ValuationsSectors
Consumption funds in September 2026: a weak year
08 Sep 2026
The median consumption fund lost 4.22% in the year to 7 September 2026, against 5.60% for the Nifty India Consumption. Over three years only 2 of 13 beat it.
SectorsFund Returns
Nifty PSU Bank P/B at 1.18, and a yield edge that shrank
25 Aug 2026
Nifty PSU Bank closed at a P/B of 1.18 on 24 August 2026, near its median since 2021. Its yield fell from 2.38% in May to 0.75%, near private banks' 0.63%.
Market ValuationsSectorsPSU funds in August 2026: strong years, behind the index
21 Aug 2026
PSU equity funds returned a median 24.05% a year over three years to 20 August 2026. The Nifty PSE's estimated total return was 25.74%, and all four trailed it.
SectorsFund Returns
Nifty Bank P/B at 1.74, cheaper on book than in March
12 Aug 2026
Nifty Bank closed at a P/B of 1.74 on 11 August 2026; since 2021 only 30 March was lower. The index is 2.5% above its 9 March close while book value rose 15.5%.
Market ValuationsSectorsDefence funds in July 2026: up 19% this year
30 Jul 2026
The Nifty India Defence was up 19.02% for 2026 on 29 July, with the Nifty 50 down 7.19%. The six defence funds, one active and five passive, against it.
SectorsFund ReturnsNifty IT P/E at 18.7: what changed since March
22 Jul 2026
Nifty IT closed at a P/E of 18.68 on 21 July 2026, down from 21.08 in March, with the price 2% lower and earnings 10% higher. Its low of 16.91 came on 1 July.
Market ValuationsSectors
Infrastructure fund returns in July 2026 vs the index
17 Jul 2026
To 16 July 2026 the median infrastructure fund returned 20.13% a year over three years and 20.92% over five, beating the Nifty Infrastructure in both.
SectorsFund ReturnsNifty 50 stocks in the first half of 2026: IT at the bottom
03 Jul 2026
In January–June 2026, 24 of 49 current Nifty 50 stocks rose. Adani Enterprises led (+35.6%); all five IT stocks fell over 11%, Infosys 38.1%. The table.
SectorsMarket Recap
The cheapest and dearest NSE indices at mid-2026
30 Jun 2026
On 29 June 2026, 40 of 60 NSE indices sat below their own median P/E since 2021, against 20 at the end of 2025. IT was 34% below its median, Pharma 15% above.
Market ValuationsSectors
Nifty Energy P/E at 14.9; Oil & Gas near a five-year low
25 Jun 2026
Nifty Energy closed at a P/E of 14.86 on 24 June 2026, above its median since 2021. Nifty Oil & Gas, at 8.82, was below all but 174 sessions. Why they split.
Market ValuationsSectors
Pharma and healthcare funds in June 2026: up 10% this year
19 Jun 2026
On 18 June 2026 the median healthcare fund was up 10.03% for 2026 while the Nifty 50 was down 7.57%. Returns over 1, 3 and 5 years against the Nifty Pharma.
SectorsFund Returns
Nifty Metal P/E at 19.2, as earnings keep pace with price
09 Jun 2026
Nifty Metal closed at a P/E of 19.19 on 8 June 2026, at its median since 2021, after a 37% rise in a year. Earnings rose as fast, but its P/B is near its high.
Market ValuationsSectors
Nifty 50 stocks in May 2026, and the year so far
03 Jun 2026
Adani Enterprises led the current Nifty 50 in May 2026 (+22.0%) and the year (+31.2%); ONGC fell 11.4% in May and TCS 29.6% this year. The tables.
SectorsMarket Recap