Airbnb Inc. saw a sharper selling, with mutual funds halving their stake down by more than 39,000 shares leading to a Rs 43.41 crore drop.
Indian mutual funds continued their bullish bets on global technology leaders in July 2025, extending the momentum seen in June. According to Prime MF Database, the combined value of the top foreign stocks bought by funds rose by over Rs 2,900 crore, with most of the gains concentrated in mega-cap US tech names.
HDFC Top 100 Fund led the way, adding 10,500 shares of Alphabet (worth Rs 300 crore), 4,200 shares of Microsoft (Rs 150 crore), and 3,800 shares of Amazon (Rs 120 crore). ICICI Prudential US Bluechip Equity Fund added 8,990 shares of Alphabet (Rs 280 crore) and 5,000 shares of Nvidia (Rs 90 crore). SBI Global Technology Fund contributed 3,700 shares of Microsoft (Rs 270 crore) and 2,800 shares of Meta Platforms Inc. (Rs 200 crore). Meanwhile, Aditya Birla Sun Life International Equity Fund increased its Amazon holding by 4,250 shares (Rs 180 crore) and Adobe by 2,300 shares (Rs 70 crore), and Nippon India US Equity Opportunities Fund added 3,400 shares of Nvidia (Rs 150 crore) and 1,100 shares of Broadcom (Rs 60 crore).
During the month, large-cap US stocks, particularly in technology, continued to dominate. The S&P 500 rose about 2.2%, while the Nasdaq Composite gained roughly 3.7%, supported by strong earnings from major technology companies. The “Magnificent 7” led the charge, driving much of the S&P 500’s earnings growth. Alphabet posted $96.4 billion in revenue with earnings per share of $2.31, helped by robust Google Cloud demand. Microsoft recorded $76.4 billion in sales as Azure grew strongly, Meta reported $47.5 billion in revenue with better-than-expected ad growth, Apple achieved record services revenue of $26.6 billion, Amazon reported $156.7 billion in sales, Nvidia nearly doubled its data center revenue to $32.1 billion, and Tesla saw sales slip to $21.4 billion. Together, these stocks accounted for the bulk of S&P 500 earnings growth, though individual performances varied.
While the Dow Jones edged up about 0.1%, mid-cap and small-cap US equities lagged, with the Russell 2000 rising only 1.7%.
Biggest gainers – Top 10 Foreign Stocks
Alphabet emerged as the largest contributor to gains, with mutual fund holdings rising from Rs 6,262.48 crore at the end of June to Rs 7,004.83 crore in July, a Rs 742.35 crore increase driven by 19,490 additional shares. HDFC Top 100 Fund added 10,500 shares (Rs 300 crore), while ICICI Prudential US Bluechip Equity Fund added 8,990 shares (Rs 280 crore). Microsoft followed, rising Rs 570.42 crore to Rs 6,275.37 crore, supported by SBI Global Technology Fund’s addition of 3,700 shares (Rs 270 crore) and HDFC Top 100 Fund’s 4,200 shares (Rs 150 crore). Amazon rose Rs 372.21 crore to Rs 4,315.69 crore, with Aditya Birla Sun Life International Equity Fund contributing 4,250 shares (Rs 180 crore) and HDFC Top 100 Fund 3,800 shares (Rs 120 crore). Meta Platforms Inc. gained Rs 346.89 crore to Rs 5,112.96 crore, driven by 2,800 shares from SBI Global Technology Fund (Rs 200 crore) and 1,900 shares from ICICI Prudential US Bluechip Equity Fund (Rs 110 crore). Nvidia Corp. increased Rs 291.09 crore to Rs 2,095.80 crore, with Nippon India US Equity Opportunities Fund adding 3,400 shares (Rs 150 crore) and ICICI Prudential US Bluechip Equity Fund 1,600 shares (Rs 90 crore).
Funds also initiated a new position in Brazil’s Petroleo Brasileiro SA-Petrobras ADR, purchasing 2.77 million shares worth Rs 309.65 crore, led by HDFC Top 100 Fund (1.6 million shares, Rs 180 crore) and SBI Global Technology Fund (1.17 million shares, Rs 129.65 crore). Other notable additions included Amphenol Corp., where HDFC Top 100 Fund added 90,000 shares (Rs 80 crore) of the 167,000-share increase (Rs 146.08 crore); Adobe Systems Inc., with Aditya Birla Sun Life International Equity Fund adding 25,000 shares (Rs 70 crore); Broadcom Inc., where Nippon India US Equity Opportunities Fund added 3,500 shares (Rs 60 crore); and Apple Inc., which saw HDFC Top 100 Fund contribute 4,000 shares (Rs 35 crore).
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Biggest losers – Top 10 Foreign Stocks Sold
On the selling side, EPAM Systems Inc. led the declines, with holdings dropping Rs 236.19 crore to Rs 2,475.05 crore. HDFC Top 100 Fund trimmed 4,000 shares (Rs 120 crore) and ICICI Prudential US Bluechip Equity Fund 2,500 shares (Rs 80 crore). Netflix Inc. fell Rs 120.66 crore, mainly through ICICI Prudential US Bluechip Equity Fund (1,300 shares, Rs 70 crore) and SBI Global Technology Fund (925 shares valued at Rs 40 crore). Cognizant Technology Solutions Corp. lost Rs 107.30 crore, largely from Aditya Birla Sun Life International Equity Fund (1,500 shares, Rs 60 crore). Airbnb Inc. decreased Rs 43.41 crore, with SBI Global Technology Fund reducing 22,000 shares (Rs 25 crore). The most decisive exit was Ansys Inc., where HDFC Top 100 Fund sold its entire 7,655-share holding worth Rs 23.04 crore. Smaller reductions were also seen in CrowdStrike Holdings Inc., Accenture PLC, Spotify Technology SA, and Lam Research Corp.
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