Even this could be an implication of demonetisation. Global research house Citi believes the flow of domestic money into India’s equity markets may double during the next financial year (FY) to $ 55 billion compared to the $ 28 billion during FY 2016-17.
“The cumulative mutual fund buying has been increasing steadily and demonetisation has added to that momentum,” Citi research analyst Samiran Chakraborty and Anurag Jha said in a note.