Equity mutual funds post their first entries after eight months

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Mutual funds that invest in stocks saw a net inflow of Rs 9,115 crore in March

Indian equity mutual funds registered entries in March after eight months of exits, industry data showed Thursday, as investors took advantage of a market correction to bet on stocks. Mutual funds that invest in stocks posted a net inflow of Rs 9,115 crore in March compared to an outflow of Rs 4,534 crore in February, according to data released by the Association of Mutual Funds in India (AMFI) . Indian stock markets hit record highs earlier this year during a rebound from a stock market crash that followed the spread of the coronavirus last year.

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But major Indian market indices fell again as the bold rise in yields and the surge in coronavirus cases weighed on market sentiment. The benchmark S&P BSE Sensex fell as much as 8% in March from a peak recorded in February, creating an opportunity for investors to pump money.

“It appears that equity investors awaiting a market correction have started making allocations by taking a long-term view of investing in equities,” said Kaustubh Belapurkar, director of the Morningstar investment research group. India.

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Mutual funds investing in debt securities, however, posted strong cash outflows in March, mainly when companies took money to pay their taxes and other expenses at year-end, according to the report. data from the IFMF.

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