MFs step up buying amid market fall

Flush with cash, fund managers continue with their 'buy on dips' mantra

The 'buy on dips' strategy continues to be the mantra of India's equity mutual fund managers. Flush with cash, domestic fund managers continued to be strong buyers, even as foreign institutional investors (FIIs) cashed out.
 

According to statistics available with the Securities and Exchange Board of India (Sebi), fund managers have already pumped over Rs 9,000 crore into stocks so far this month. Domestic mutual funds (MFs) are said to have intensified their buying in the last two trading sessions, when the benchmark indices came off nearly three per cent.

Fund managers told Business Standard they stepped up buying as