Reliance Industries and BSE Lead Mutual Fund Stock Purchases in September 2026

Key Takeaways:

• Reliance Industries was the most-bought stock by Indian mutual funds in September 2026, attracting net investments of nearly ₹6,000 crore. 
• BSE ranked second with net mutual fund purchases exceeding ₹5,500 crore, with a block transaction contributing to the month's activity. 
• HDFC Bank, ICICI Bank and Swiggy were also among the five most-bought stocks, according to data compiled by Prime Database. 

Reliance Industries Tops September Mutual Fund Purchases 

Indian mutual funds invested nearly ₹6,000 crore in Reliance Industries during September 2026, making it the most-bought stock by the industry during the month. 

BSE followed with net purchases exceeding ₹5,500 crore, according to Prime Database figures reported by Business Standard. 

The two companies attracted substantial institutional investment during a period of changing equity-market allocations. 

HDFC Bank, ICICI Bank and Swiggy completed the list of the five most-bought stocks. 

The figures represent reported net purchases by mutual funds rather than the total market value of their holdings in these companies. 

BSE Attracts Purchases Around Index Inclusion 

BSE's inclusion in the Nifty 50 on 30 September coincided with substantial mutual fund buying. 

Business Standard reported that a block deal on the same date contributed to the activity, with mutual funds purchasing a large portion of the shares sold by Goldman Sachs and BNP Paribas. 

Index changes can influence portfolio transactions by funds that track an index or use it as a reference benchmark. 

Passive schemes generally seek to replicate the composition of their underlying benchmark, subject to expenses and tracking differences. 

Active funds may also consider index membership, liquidity and other company-specific factors when making portfolio decisions. 

The available data does not establish how much of BSE's reported mutual fund buying was attributable to passive index-related transactions. 

Other Companies Attract Fund Investments 

The National Stock Exchange also attracted reported investments of approximately ₹3,408 crore, including pre-IPO and anchor investments. 

PB Fintech featured among the 15 most-bought stocks, with mutual funds adding shares worth around ₹1,747 crore. 

In contrast, Wipro, Larsen & Toubro and Tata Consultancy Services were among the most-sold stocks in September. 

These purchases and sales indicate changes in the industry's reported stock-level positioning during the month. 

A stock appearing on the most-bought list does not mean every mutual fund added it to its portfolio. The figures represent aggregate activity across participating schemes. 

Institutional Flows and Portfolio Holdings 

Stock-level mutual fund purchase data helps identify where domestic institutional investment was concentrated. 

Such figures differ from AMFI's monthly category-wise mutual fund inflow statistics. 

AMFI data measures subscriptions and redemptions at the scheme or category level. Stock-level purchase data captures transactions involving particular securities. 

Fresh fund inflows can provide money for portfolio purchases, but stock transactions can also be financed through the sale of existing holdings or deployment of cash balances. 

The September data establishes Reliance Industries and BSE as the two leading stocks by reported mutual fund net purchases. 

It does not establish the future direction of either company's share price.