July equity flows hit nine-month low of Rs 8,898 crore, shows data

Sharp correction seen in June makes investors risk-averse

Equity-oriented mutual fund (MF) schemes received net inflows of Rs 8,898 crore in July — the lowest since October 2021 — and half of average monthly inflows received during the first half of the calendar year.

Industry players blamed volatile market conditions and profit-taking for the sharp decline in net inflows.

In June, markets had seen intense sell-off amid sustained selling by overseas funds on concerns of a hard landing of the global economy due to aggressive monetary tightening by the US Federal Reserve.

Markets staged a comeback in July. However, uncertain market conditions could have weighed on sentiment. Also,