Equity mutual funds turn defensive, log out of stocks

Even as FPIs (foreign portfolio investors) continue to bet big on the Indian market, equity mutual funds (MFs) have turned defensive and have offloaded shares to the tune of $1.3 billion (Rs 9,043.2 crore) since the beginning of March (March 1 to April 23). Equity MFs have turned net sellers on the Indian markets for the first time since July 2016. In contrast, FPIs have invested a whopping $7.22 billion (Rs 50381 crore) in the Indian markets between March 1 and April 24, data with share deposit ..

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