Mutual funds increased their holdings in stocks like BSE and HDFC Bank during September 2026. Data from Motilal Oswal Financial Services showed that BSE saw a 26.8% rise in holding value. While share prices fell for some, many fund managers bought more shares, showing a clear shift in their portfolios.

If you invest in mutual funds, it is worth tracking which stocks fund managers are buying and selling, as these changes can offer insights into how their portfolios are shifting.

In September 2026, mutual funds increased the value of their holdings in stocks such as BSE, HDFC Bank, Coal India, Meesho, and Gland Pharma, according to the latest Fund Folio – Indian Mutual Fund Tracker report by Motilal Oswal Financial Services.

However, a rise in the value of a mutual fund's holdings does not necessarily mean fund managers bought more shares. The change can reflect fresh purchases, changes in share prices, or a combination of both.

Comparing changes in holding value with changes in shareholding quantity offers investors a clearer picture of where mutual funds increased their exposure.

Which stocks saw the biggest increase in mutual funds’ holding value in September?

*Source: Motilal Oswal Financial Services’ Fund Folio: Indian Mutual Fund Tracker; September 2026 activity; Holding values and share quantities are as of September 2026; month-on-month changes compare September with August 2026; Figures have been converted from billion to crore and million to lakh, respectively.

BSE saw a 26.8% increase in the value of mutual funds' holdings to ₹20,060 crore. The quantity of shares held rose 34.6%, while the stock's price declined 5.8% during the month. This indicates that the increase in holding value was driven by a higher number of shares held, rather than a rise in the stock price.

However, HDFC Bank's holding value increased by just 1% to ₹2.8 lakh crore, alongside a 1% rise in the quantity of shares held. Its price was nearly unchanged, suggesting that the increase in holding value largely reflected the additional shares.

ITC presents another example of why investors should compare value and quantity. Mutual funds' holding value rose 3%, while their shareholding increased only 0.1%. The stock's 2.9% price gain explains most of the increase in value.

How many mutual funds bought or sold these stocks in September?

*Source: Motilal Oswal Financial Services’ Fund Folio: Indian Mutual Fund Tracker; September 2026 activity

Tata Steel recorded the broadest buying participation, with 19 funds buying and 2 selling. Dr Reddy’s Laboratories followed, with 17 funds buying against four selling. BSE and HDFC Bank each saw 15 funds buying, exceeding the number of funds selling.

ITC saw a more mixed pattern, with 11 funds buying and 10 selling. Aditya Infotech, which recorded the highest growth in holding value, saw 10 funds buying and 6 selling.