India equity mutual fund inflows ease for second straight month in January

Inflows into Indian equity mutual funds declined for a second consecutive month in January as markets remained subdued on rising geopolitical and trade risks, industry data showed on Tuesday.

Inflows fell 14.35% month-on-month to 240.29 billion Indian rupees ($2.65 billion), data from the Association of Mutual Funds in India showed.

Foreign portfolio investors pulled out about $4 billion from Indian equities during the month.

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The benchmark Nifty 50 and Sensex dropped 3.1% and 3.5% in January, while the broader small-caps and mid-caps fell 4.7% and 3.4%, respectively.