Mutual funds’ (MFs’) equity buying hit a four-month low in June at Rs 20,359 crore as stocks extended their winning streak from election-day lows, providing fewer opportunities for money managers to bargain hunt. Positive inflows from foreign portfolio investors (FPIs) after two months and a potential go-slow in net inflows into equity schemes may have contributed to the moderation in MF buying in June. MFs had purchased equities worth Rs 48,099 crore in May 2024, marking the highest-ever deployment in the equity market in a calendar month. In March and April, they netted Rs 44,233 crore and Rs 32,824 crore in buying, respectively.
Valuations in Indian markets have become reasonable: Mirae's CIO Surana
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