Redemptions from systematic investment plan (SIP) accounts scaled a new high of ₹14,367 crore in July, indicating investors booked profits following back-to-back months of gains in the market. Volatility triggered by Budget announcements also played on investor sentiment.
"July 2024 saw a peak in the Nifty, which may have prompted profit booking among investors nearing the end of their goal tenure. This could be one of the reasons for the higher outflows of funds accumulated through SIPS," said Feroze Azeez, deputy CEO, of Anand Rathi Wealth.
"Those who have been investing through SIP over the past few years have made handsome returns. Those satisfied with returns and not expecting further rally could be booking profits and also stopping SIPS," added Sriram BKR, senior investment strategist, Geojit Financial Services.
Denne historien er fra August 17, 2024-utgaven av Business Standard.
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Denne historien er fra August 17, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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