sip investment, increased investment in SIP, crosses Rs 14,000 crore for the first time, mutual fund also picks up
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Heavy selling in debt and hybrid funds: If we look at the debt category, after the change in tax rules in the financial bill, the focus of investors has shifted towards long-term funds. Due to heavy selling in debt and hybrid funds, there was a withdrawal of Rs 21693.91 crore from open ended mutual funds in the month of March. There was a withdrawal of Rs 56924 crore from liquid funds. A total of Rs 56884.13 crore was withdrawn from debt funds in March. There was a withdrawal of Rs 11421 crore from Money Market Funds and Rs 10280.76 crore from Ultra Short Duration Funds.
15,626 crore in corporate bonds: Talking about debt funds, the highest inflow of Rs 15,626 crore was recorded in corporate bond funds. This was followed by an inflow of Rs 6,496.25 crore in Banking and PSU Fund, Rs 4,430.57 crore in Guild Funds and Rs 5,660.75 crore in Dynamic Bond Funds.
Despite a sharp fall in the US stock markets on Wednesday on fresh recession concerns, the domestic markets closed higher for the ninth day on the back of good economic trends. The Sensex closed at 60,431 points with a marginal gain of 38.23 points due to buying in bank, financial and metal stocks amid a decrease in retail inflation. Whereas Nifty climbed 15.60 points to close at 17,828 points. Ajit Mishra, Head of Research, Religare Broking Ltd said, “After a flat opening, a weak trend in IT companies led to the fall in Nifty. However, buying of major companies, especially bank shares, offset losses and the indices closed almost flat. Vinod Nair, Head of Research, Geojit Financial Services, said, ‘Retail inflation in the country came down to 5.66 per cent. This has supported the Reserve Bank’s decision not to change the policy rate.
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