MUMBAI, April 8 (Reuters) - India's equity mutual funds recorded inflows in March after eight months of outflows, industry data showed on Thursday, as investors took advantage of a stock market correction to place bets on equities.
Mutual funds that invest in equity showed a net inflow of 91.15 billion rupees ($1.22 billion) in March compared with an outflow of 45.34 billion rupees in February, data published by the Association of Mutual Funds in India (AMFI) showed.
Indian stock markets touched record highs earlier 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 again as rising bold yields and a surge in coronavirus cases weighed on market sentiment. The benchmark S&P BSE Sensex .BSESN lost as much as 8% during March from a peak it recorded in February, creating an opportunity for investors to pump in funds. seems like equity investors waiting on the sidelines for a market correction have started making allocations taking a long-term investing view on equities," said Kaustubh Belapurkar, a director at investment research group Morningstar India.
Mutual funds investing in debt instruments, however, showed steep outflows in March, mainly as companies took out money to pay tax and other expenses as the financial year drew to a close, the AMFI data showed.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
MF managet buy the stocks at high price and sell off at low price, Just managing his sallarry from investors money.Like 0