Indian stock markets got a boost from domestic mutual funds (MFs), with fund managers investing Rs 9,918 crore in equities last month, more than double the amount in the preceding month.
In March, MFs total net equity investments stood at Rs 4,191 crore, news agency PTI reported on Sunday, citing data released by capital markets regulator, the Securities and Exchange Board of India (Sebi).
The April inflows into equities also marked a five-month, short of Rs 13,775 crore in November last year, the month of demonetization, while the full-year net purchases of equities by MFs was Rs 51,000 crore in 2016-17, PTI added.
The 30-scrip index (BSE Sensex) reached record highs in April.
In financial year 2016-17, net inflows into equity MFs was Rs 60,270 crore as against Rs 67,611 crore in the preceding year.
The country's top three fund houses are ICICI MF, HDFC MF and Reliance MF.
India's benchmark index BSE Sensex gained just 1 percent in April compared to 2 percent for Hong Kong (Hang Seng) and 3 percent for South Korea (Kospi). For the three-month period ended April, Sensex gained 6 percent while the one-year appreciation is 17 percent, according to IDBI Capital Markets & Securities.
In April, select sectoral indices outperformed the BSE Sensex; Realty Index gained 20 percent and Capital Goods Index 8.6 percent.
The month was an exception for foreign institutional investors (FIIs) who turned net sellers in Indian equities to the tune of about $200 million, though for the four-month period, their net equity investments in India were significant.
"The equity markets saw inflows of $6.4 billion (for January-April 2017), double the $3.2 billion in the corresponding period last year. The debt market has seen inflows of $7.6 billion in 2017 so far, againt of $7.6 billion in 2016," Teresa John, analyst at brokerage Nirmal Bang Institutional Equities, had told International Business Times, India edition a few days ago.
India's foreign exchange reserves hit a lifetime high of $372.73 billion as of April 28, 2017, after a net inflow of $1.59 billion, according to Reserve Bank of India (RBI) data released on Friday. The rise comes on the back of $1.25 billion increase for the week ended April 21.
The earlier all-time high was $371.99 billion reported for the week ended September 30, 2016.
The BSE Sensex saw some bullish trend during the four-day week but ended with losses on Friday (May 5), to close at 29,859, down 267 points while the NSE Nifty ended 75 points lower at 9,285.
