1 min read.Updated: 14 Oct 2021, 02:29 PM ISTLivemint
SIP inflows hit an all time-high in September as inflows crossed ₹10,000 crore for the first time in a month
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Inflows into equity funds remained low for a second consecutive month at ₹6,456 crore in September, down from ₹8,056 crore in August. Meanwhile, SIP inflows crossed record high level and came in at ₹10,351 crore compared to ₹9,923 crore in August. New fund offers (NFO) inflows during September were at ₹6,579 crore against ₹6,863 crore in August.
As per a report by brokerage firm ICICI Securities, Vodafone Idea, Max Healthcare Institute, Canara Bank, L&T Finance Holdings, GMR Infrastructure, Escorts, Ashok Leyland, Oberoi Realty, Bharat Heavy Electricals (BHEL), Bharat Forge are the top ten midcap stocks that asset management companies (AMCs) bought in the month of September.
Their top ten sells in the midcap space included stocks like Indian Railway Catering And Tourism Corporation (IRCTC), Sun TV Network, Dr Lal Pathlabs, Nippon Life India Asset Management, Linde India, Aditya Birla Capital, Petronet LNG, Godrej Properties, SRF, and Voltas.
Under smallcaps, the fund houses bought stocks like Kolte-Patil Developers, PTC India, Action Construction Equipment, Arvind Fashions, India Glycols, Apollo Pipes, Apex Frozen Foods, Esab India, IIFL Wealth Management, Can Fin Homes during the month under review.
Whereas, Gujarat Narmada Valley Fertilizers & Chemicals, Laxmi Organic Industries, Granules India, Railtel Corporation Of India, Easy Trip Planners, The India Cements, Welspun Corp, ITD Cementation, Capacit'e Infraprojects, Computer Age Management Services (CAMS) are the top ten smallcap stocks mutual funds sold.
Driven by record inflows into Systematic Investment Plans (SIPs), the overall mutual funds industry's assets under management jumped to nearly ₹37 lakh crore in September, registering an over 33% growth compared to the year-ago period, showed AMFI data.