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Motilal Oswal Report
After achieving the milestone of 26,000 in September 2024, the Nifty-50 corrected in Oct-24 due to weak corporate earnings in Q2 FY25, the highest-ever monthly selling by FIIs, and geopolitical tensions in the Middle East. The index oscillated 1,834 points before closing 1,606 points lower (down 6.2% month-on-month) at 24,205 – the steepest MoM decline since Mar-20. Notably, DII inflows (at $12.8 billion) and FII outflows (at $10.9 billion) were at record highs in Oct-24.
Equity AUM of domestic MFs (including ELSS and index funds) decreased 3.6% MoM to Rs 32.6 trillion in Oct’24, led by a fall in market indices (Nifty down 6.2% MoM). Notably, the month saw an increase in sales of equity schemes (up 3.5% MoM to Rs 868 billion). The pace of redemptions slowed down to Rs 370 billion (down 22.1% MoM). Consequently, net inflows surged to an all-time high in Oct-24 to Rs 498 billion versus Rs 364 billion in Sep’24. Total AUM of the MF industry inched up 0.2% MoM to Rs 67.3 trillion in Oct’24, driven by a MoM increase in AUM of liquid funds (Rs 1,138 billion), and income funds (Rs 495 billion).
Conversely, AUM of equity funds declined by Rs 1,234 billion and other ETFs by Rs 274 billion MoM. Investors continued to park their money in mutual funds, with inflows into systematic investment plans reaching a new peak of Rs 253.2 billion in Oct-24 (up 3.3% MoM and 49.6% YoY).
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