New Delhi, June 28 -- Data from the Association of Mutual Funds of India (AMFI) shows that equity mutual funds drew nearly Rs.23,000 crore investments in May. And while this was down 40% year-on-year basis, it was also the 63rd consecutive month of net inflows since March 2021.

Overall, it seems that domestic investors are not much spooked by market volatility. Notably, even when the Nifty slipped 6.4% month-on-month in March, systematic investment plan (SIP) contributions rose 7.5% to Rs.32,087 crore in contrast to foreign portfolio investors (FPIs) selling a record Rs.1.18 lakh crore.

The AMFI data highlighted that domestic investors are significant participants in India's capital markets, with Rs.30,953.83 crore in monthly SIP inflow...