Mint Quick Edit | Record SIP inflows in October: Source of stability
Live MintDespite the share market selloff, retail investors seem to be in no panic. The total amount of money flowing into equity markets through SIPs hit a record ₹25,322.74 crore in October, up from ₹24,509 crore in September. The count of SIP accounts also climbed to a new peak of 101.2 million from 98.7 million, according to Amfi data released on Monday. Clearly, the fall in portfolio values over that month, a period marked by foreign money being pulled out in large quantities, did not send routine investors scrambling for the exits. Either way, India’s retail investing boom has held up and could act as a stabilizing factor as we enter what may well be a corrective phase, with stock prices flagging after an extended rally and corporate earnings needing to catch up.