Mutual funds in India have sold shares worth INR 5,100 crore ($687m) in April, Nuvama Institutional Equities reported, while FIIs bought INR 12,400 crore worth of the stocks in the secondary market. Meanwhile, domestic investors’ equity inflows into mutual funds moderated to INR 6,500 crore, a five-month low. On a positive note, small- and mid-cap funds continued to see inflows, with a total of INR 4,000 crore in April. The retail category garnered 61% of the total inflows received into equity schemes in India, continuing the trend seen in recent months.
Market expects one more rate cut as inflation stays benign
Indian economists and bond market experts expect another quarter percentage point cut in policy rates. This follows the Reserve Bank of India’s recent rate reduction