Funds bought record Rs 1.3 trillion stocks so far this financial year

The recent weakness in stock markets has provided an opportunity to buy quality stocks relatively cheaper

Equity fund managers, flush with strong domestic inflows, have invested a record Rs 1.3 trillion in stocks so far this financial year. The tally is more than double that in 2016-17.

Fund managers have bought shares worth Rs 117 billion a month on average in 2017-18. At a time when monthly flow through Systematic Investment Plans (SIPs) have touched a record Rs 70 billion.

The managers expect the domestic economy to do well over the medium to long term, on the back of reforms initiated by the government. Most money managers have been continuously deploying the huge inflow into their schemes in