February 08, 2024 / 12:56 PM IST
Sensex Today | Akhil Chaturvedi, Chief Business Officer, Motilal Oswal Asset Management Company
:
Despite slight volatility in January, the market closed flat on a month-to-month basis. Equity schemes experienced a surge in inflows, reaching approximately ₹21,780 crores in Jan’24, compared to ₹16,997 crores in Dec’23. Sectoral/thematic and small-cap oriented funds were the primary contributors, with contributions of ₹4,804 crores and ₹3,256 crores, respectively. However, this was lower than the previous month’s flows. Multi-cap category funds also witnessed a significant increase, reaching ₹3,038 crores in Jan’24 from approximately ₹1,852 crores in Dec’23.
Large caps demonstrated positive contributions this month, reversing the net outflows experienced in December 2023. This shift in trend is in line with valuation differentials among large v/s mid and small caps, suggesting that large caps/flexi caps oriented schemes may attract higher flows in the future. In the Hybrid category, MAF observed notable inflows of ₹7,079 crores, a significant increase from ₹2,420 crores in the previous month.
Overall, investor sentiment remained bullish, supported by the market’s persistent strength. Market and investor sentiment leading up to the general elections year remain positive.
