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Sectoral / Thematic · Nippon India Mutual Fund · AMFI code 101862Nippon India Banking & Financial Services Fund
Disclosed for 64 months, May 2021 to Aug 2026.Published as: NIPPON INDIA BANKING & FINANCIAL SERVICES FUND (An open ended equity scheme investing in Banking & Financial Services Sector)
Portfolio value
₹7,753 Cr
down ₹25.5 Cr vs Dec 2025
- Stocks held
- 34
Nippon India Banking & Financial Services Fund is an active equity fund in the Sectoral / Thematic category from Nippon India Mutual Fund. In January 2026 it disclosed 34 stocks worth ₹7,753 Cr, down ₹25.5 Cr from Dec 2025. Its largest positions were HDFC Bank Limited (15.1%), ICICI Bank Limited (13.0%), Axis Bank Limited (9.8%); the ten largest together made up 65.3% of the portfolio, and Banks was the biggest sector at 61.5% of its equity. Cash and debt stood at 1.5%. Compared with Dec 2025 the fund entered 1 new stock and exited 0.
Against 229 other Sectoral / Thematic funds
Concentration
90%
Top-10 weight is higher than 90% of peers
Breadth
22%
Holds more stocks than 22% of peers
Cash
21%
Holds more cash than 21% of peers
What these mean: concentration · cash
Holdings in January 2026
Download CSVEvery line the fund disclosed, with the change against Dec 2025. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| HDFC Bank Limited | 15.13% | down 0.25 pts | ₹1,173 Cr | down ₹23.7 Cr | Trimmed |
| ICICI Bank Limited | 13.00% | down 1.22 pts | ₹1,008 Cr | down ₹98.4 Cr | Trimmed |
| Axis Bank Limited | 9.85% | up 0.76 pts | ₹764 Cr | up ₹56.3 Cr | Added |
| State Bank of India | 7.73% | up 0.70 pts | ₹599 Cr | up ₹52.8 Cr | Added |
| SBI Life Insurance Company Limited | 3.79% | down 0.06 pts | ₹294 Cr | down ₹5.4 Cr | Trimmed |
| SBI Cards and Payment Services Limited | 3.78% | down 0.53 pts | ₹293 Cr | down ₹42.1 Cr | Trimmed |
| The Federal Bank Limited | 3.49% | up 0.26 pts | ₹271 Cr | up ₹19.4 Cr | Added |
| Bajaj Finserv Limited | 3.21% | down 0.13 pts | ₹249 Cr | down ₹11.1 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 2.67% | down 0.20 pts | ₹207 Cr | down ₹16.3 Cr | Trimmed |
| Bank of Baroda | 2.62% | up 0.04 pts | ₹203 Cr | up ₹2.4 Cr | Added |
| Max Financial Services Limited | 2.52% | down 0.08 pts | ₹196 Cr | down ₹7.1 Cr | Trimmed |
| IndusInd Bank Limited | 2.50% | up 0.10 pts | ₹194 Cr | up ₹6.9 Cr | Added |
| ICICI Prudential Asset Management Company Limited | 2.43% | up 0.26 pts | ₹188 Cr | up ₹19.7 Cr | Added |
| Cholamandalam Financial Holdings Limited | 2.33% | down 0.15 pts | ₹181 Cr | down ₹12.1 Cr | Trimmed |
| Multi Commodity Exchange of India Limited | 2.25% | up 0.27 pts | ₹175 Cr | up ₹20.8 Cr | Added |
| Equitas Small Finance Bank Limited | 1.95% | up 0.20 pts | ₹151 Cr | up ₹15.3 Cr | Added |
| L&T Finance Limited | 1.95% | down 0.19 pts | ₹151 Cr | down ₹15.6 Cr | Trimmed |
| Bajaj Finance Limited | 1.62% | down 0.09 pts | ₹125 Cr | down ₹7.7 Cr | Trimmed |
| AU Small Finance Bank Limited | 1.60% | down 0.01 pts | ₹124 Cr | down ₹1.5 Cr | Trimmed |
| KFin Technologies Limited | 1.56% | up 0.14 pts | ₹121 Cr | up ₹10.3 Cr | Added |
| HDFC Life Insurance Company Limited | 1.53% | down 0.03 pts | ₹119 Cr | down ₹3.1 Cr | Trimmed |
| Cash, TREPS & receivables | 1.51% | down 0.04 pts | ₹117 Cr | down ₹3.2 Cr | Trimmed |
| Angel One Limited | 1.45% | up 0.12 pts | ₹112 Cr | up ₹8.7 Cr | Added |
| UTI Asset Management Company Limited | 1.43% | down 0.23 pts | ₹111 Cr | down ₹17.9 Cr | Trimmed |
| HDFC Asset Management Company Limited | 1.09% | down 0.06 pts | ₹84.7 Cr | down ₹5.3 Cr | Trimmed |
| DDB DEWAN HSG FINANCE CORPORATION LTD Piramal Finance Limited · history in this fund | 0.94% | up 0.06 pts | ₹73 Cr | up ₹4.2 Cr | Added |
| ICICI Lombard General Insurance Company Limited | 0.89% | down 0.07 pts | ₹69.2 Cr | down ₹5.6 Cr | Trimmed |
| PNB Housing Finance Limited | 0.77% | down 0.12 pts | ₹59.7 Cr | down ₹9.4 Cr | Trimmed |
| One 97 Communications Limited | 0.76% | down 0.11 pts | ₹59 Cr | down ₹8.4 Cr | Trimmed |
| Aavas Financiers Limited | 0.75% | up <0.01 pts | ₹58.5 Cr | down ₹11 L | Held |
| ICICI Prudential Life Insurance Company Limited | 0.75% | down 0.03 pts | ₹57.9 Cr | down ₹2.9 Cr | Trimmed |
| Star Health And Allied Insurance Company Limited | 0.64% | up 0.64 pts | ₹49.3 Cr | up ₹49.3 Cr | New |
| Sundaram Finance Limited | 0.61% | up 0.14 pts | ₹47.5 Cr | up ₹10.7 Cr | Added |
| HDB Financial Services Limited | 0.53% | down 0.04 pts | ₹40.9 Cr | down ₹3.4 Cr | Trimmed |
| Seshaasai Technologies Limited | 0.35% | down 0.03 pts | ₹26.8 Cr | down ₹2.2 Cr | Trimmed |
What changed, Dec 2025 to Jan 2026
New New positions (1)
- Star Health And Allied Insurance Company Limited0.6% · ₹49.3 Cr
Exited Exited (0)
None.
Added Biggest additions
- Axis Bank Limitedup ₹56.3 Cr (+0.76% pts)
- State Bank of Indiaup ₹52.8 Cr (+0.70% pts)
- Multi Commodity Exchange of India Limitedup ₹20.8 Cr (+0.27% pts)
- ICICI Prudential Asset Management Company Limited ₹19.7 Cr (+0.26% pts)
Sectors
Which sectors the fund is moving towards and away from, and where its money sits now. Shares are of the fund’s classified equity holdings, so they add up to 100%.
Where the weight moved
Compared with
Since Dec 2025, the weight rose most in Capital Markets (+0.5 pts) and Insurance (+0.4 pts), and fell most in Finance (−1.1 pts) and Financial Technology (fintech) (−0.1 pts).
- Capital Markets9.9% → 10.4%+0.5 pts
- Insurance9.9% → 10.3%+0.4 pts
- Banks61.1% → 61.5%+0.4 pts
- Finance17.8% → 16.8%−1.1 pts
- Financial Technology (fintech)1.3% → 1.1%−0.1 pts
A sector’s weight changes when the fund buys or sells, and also when its shares rise or fall in price, so a change is not by itself a sign of buying or selling.
Main sectors’ weights over time
| Sector | Jan 2023 | Jan 2025 | Jul 2025 | Oct 2025 | Dec 2025 | Jan 2026 |
|---|---|---|---|---|---|---|
| Banks | 61.2% | 66.9% | 64.2% | 63.9% | 61.1% | 61.5% |
| Finance | 22.3% | 17.2% | 15.7% | 17.0% | 17.8% | 16.8% |
| Capital Markets | 6.1% | 6.3% | 8.1% | 7.8% | 9.9% | 10.4% |
| Insurance | 9.4% | 8.1% | 10.6% | 9.8% | 9.9% | 10.3% |
| Financial Technology (fintech) | 1.0% | 1.5% | 1.4% | 1.5% | 1.3% | 1.1% |
Allocation in Jan 2026change vs Dec 2025
- Banks (10)61.5%▲ 0.4 pts
- Finance (10)16.8%▼ 1.1 pts
- Capital Markets (6)10.4%▲ 0.5 pts
- Insurance (6)10.3%
Cash and debt
The share of the portfolio not in shares: cash and net receivables, money-market instruments and bonds, as disclosed each month. Cash can dip below zero when payables, often on derivative positions, exceed it. A change here describes what the fund did; it is not a signal. More on reading cash.
Cash & debt, Jan 2026
1.5%
unchanged vs Dec 2025
- Cash alone
- 1.5%
- cash and net receivables
- A year earlier
- 1.2%
- Jan 2025 · now ▲ 0.4 pts
- Last 12 months
- 1.5% – 3.2%
- lowest to highest · record 5.0% in Jul 2023
History
Disclosed portfolio value by month, with the stocks the fund entered and exited against its previous disclosure. Every month is a link to that portfolio.