Mutual funds that invest in equity showed a net inflow of Rs 9,115 crore in MarchIndia's equity shared funds taped inflows in March after eight months of outflows, market data revealed on Thursday, as financiers took advantage of a stock exchange correction to place bets on equities.
Mutual funds that invest in equity revealed a net inflow of Rs 9,115 crore in March compared with an outflow of Rs 4,534 crore in February, information published by the Association of Mutual Funds in India (AMFI) showed.
Indian stock exchange touched record highs previously this year in a rebound from a market crash that followed the spread of the coronavirus last year.But key Indian market indices have fallen once again as rising bold yields and a surge in coronavirus cases weighed on market belief.
The benchmark S&P BSE Sensex lost as much as 8 per cent throughout March from a peak it recorded in February, creating an opportunity for investors to pump in funds.
It seems like equity financiers waiting on the sidelines for a market correction have actually started making allotments taking a long-term investing view on equities, said Kaustubh Belapurkar, a director at investment research group Morningstar India.Mutual funds buying financial obligation instruments, nevertheless, revealed high outflows in March, generally as business got cash to pay tax and other costs as the financial year waned, the AMFI data revealed.