MFs shrug off valuation concerns, step up buying as FPIs press sell button

Have pumped in over Rs 10,500 cr this month-the most since in 16 months

Topics
Mutual funds MFs | Foreign Portfolio Investors | FPIs

Chirag Madia & Sundar Sethuraman  |  Mumbai 

Domestic mutual funds (MFs) have stepped up buying of stocks this month amid a pushback by foreign portfolio investors (FPIs). Shrugging off concerns around lofty valuations, money managers have purchased stocks worth more than Rs 10,500 crore until July 23, as data provided on Sebi website.

Unless there is a huge drawdown in the remaining few sessions of the month, the buying tally for the month of July is set to be highest since March 2020. MFs poured in a record Rs 30,285 crore into domestic stocks in March 2020, taking advantage of the sharp drop in the markets. However, after ...

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, July 28 2021. 18:07 IST
RECOMMENDED FOR YOU
.