March 12 (Reuters) – Inflows into India’s equity mutual funds shrank to a 10-month low in February as the benchmark index posting its longest falling streak in nearly three decades pushed away investors, data released on Wednesday showed.
Inflows fell 26% month-on-month, the steepest drop since April 2023, to 293.03 billion rupees (about $3.4 billion), according to data by the Association of Mutual Funds in India.
Flows into largecap funds fell 6% month-on-month while those into smallcap and midcap funds fell 34% and 36%, respectively.
India’s smallcap and midcap indexes fell 13% and nearly 11% in February, their worst month in five years.
In contrast, the blue-chip Nifty 50 index slipped 6%.
($1 = 87.2420 Indian rupees)
