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    Weak trend in Jan does not shake MFs’ faith in equity

    Synopsis

    The gross purchase of the local funds remained more than Rs one lakh crore in January for the second month in row. The net inflow was Rs 17,958 crore in the month. This partially offset rising redemption pressure from foreign funds as they sold equities worth Rs 28,852 crore, the highest in seven months.

    ET Intelligence group: Domestic mutual funds (MF) continued to bet on equities in January despite a market shakeup that wiped out $ 140 billion of the country’s market capitalization since the beginning of the year. The gross buy to sell ratio of the domestic funds, which depicts their buying strength in the secondary market, rose to 1.21 in January 2023 compared with the long-term average of 1.07, the data from SEBI showed. The ratio expanded
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    The Economic Times