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Motilal Oswal Report
The Nifty scored a hat-trick in August 2020, ending 2.8% higher month on month after strong 7.5% rally each in June 2020/July 2020.
The rally was broad-based as mid-caps and small-caps both led the positive market sentiment.
This was sharply aided by huge foreign institutional investor inflows of 6.1 billion U.S. dollar in August 2020 - the highest monthly inflow in 10 years.
Domestic Institutional Investors continued selling with outflows of 1.5 billion U.S. dollar.
Investors capitalized on the market rally to book profits, which paved way for another round of outflows in the equity category.
Equity asset under management (including equity linked savings scheme and Index funds) of domestic mutual funds increased 4.3% month on month to Rs 8.1 trillion in August 2020, led by a rise in market indices (Nifty up 2.8% month on month) and marginal increase in sales of Equity schemes (up 2.9% month on month to Rs 152 billion).
Redemptions remained high at Rs 190 billion (up 1% month on month), leading to net outflows of Rs 38 billion in August 2020 (versus an outflow of Rs 40 billiom recorded in July 2020).
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