Local Fund’s Net Equity Buys Top Rs 24K crore, Again

Secondary market inflow of Rs24, 270 crore in November highest since March 2020

Strong inflows from the domestic funds were partially able to offset the risk-off selling by foreign funds in November amid the discovery of a new coronavirus variant. Domestic mutual funds were net buyers of Rs 24,270 crore worth of equities in the secondary market, the highest monthly inflow since March 2020, data from SEBI showed.

The domestic monthly inflow has surpassed Rs 24,000 crore only three occasions since 2005, when the data was first made available on the regulator’s website. The gross purchase to sales ratio of the local funds increased to 1.3 compared with the long-term average of 1.06. the six-month rolling gross purchase of the local funds rose to Rs 1 lakh crore in November 2021 for the first time ever and was about 55% of the gross purchase by foreign funds during the period.

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