In September 2024, mutual funds’ equity assets under management (AUM) rose 3.3% month-on-month to Rs 33.8 trillion, driven by gains in stocks like HDFC Bank, ICICI Bank, and Maruti Suzuki.
Despite a 20.6% rise in redemptions, systematic investment plan (SIP) inflows hit a record Rs 245.1 billion, up 4.1% from August. Private banks saw a revival, increasing their weight to 16.1%, while sectors like Technology and Oil & Gas saw reductions. Top mutual fund buys included Trent, IndusInd Bank, and Eicher Motors, reflecting optimism in private banks and auto stocks.