India equity fund inflows fall in July as large-caps see outflows after 31 months
INDA•Market performance in July
India's Nifty 50 index rose 2.2% in July, while small-caps gained 2.5% and mid-caps rose 1.8%, respectively.
$1 = 95.4250 Indian rupees
India equity mutual fund inflows slow in July
Equity mutual fund inflows in India fell 14.8% month-on-month to 246.97 billion rupees ($2.59 billion) in July, as investors turned net sellers for the first time in 31 months in large-caps, while the broader small-caps and mid-caps garnered record inflows.
Despite moderating sequentially, domestic equity mutual funds drew inflows for a record 65th consecutive month in July, supported by stronger-than-expected earnings, central-bank backing for the rupee and softer crude prices, according to data from the Association of Mutual Funds in India on Tuesday.
