AMFI March Data -MUMBAI : Indian investors demonstrated significant market maturity in March 2026, pumping nearly ₹40,000 crore into equity mutual funds. This surge coincided with a period where the Nifty and Sensex touched record lows due to escalating geopolitical tensions.
According to the latest data released by the Association of Mutual Funds in India (AMFI), net inflows into equity mutual funds reached ₹40,450.26 crore in March. This represents a substantial jump from the ₹25,977.81 crore recorded in February 2026.
Flexi Cap Funds Lead the Rally
The Flexi Cap category emerged as the primary driver of this growth. These funds recorded a net inflow of ₹10,054.12 crore in March, a sharp increase from the ₹6,924 crore seen in the previous month.
Industry experts suggest the spotlight on Flexi Caps highlights the importance of diversification across market capitalizations during times of elevated volatility. Other categories also showed robust performance:
- Small-cap funds: ₹6,263.56 crore
- Mid-cap funds: ₹6,063.53 crore
- Large & Mid-cap funds: ₹5,307.25 crore
- Large-cap funds: ₹2,997.84 crore
SIP Contributions Reach New Milestone
A pivotal highlight of the March data is the performance of Systematic Investment Plans (SIPs). Monthly SIP contributions hit an all-time high of ₹32,087 crore, rising from ₹29,845 crore in February.
This record-breaking figure indicates a growing preference for disciplined, long-term investing among retail participants, even as the broader markets faced “meaningful drawdowns.”
Divergent Trends in Debt and Gold
While equity saw a sharp month-on-month uptick, the mutual fund industry faced a yearly decline in total inflows. On a year-on-year basis, equity collections dropped by nearly 17%.
The debt fund segment struggled significantly, with collections plummeting 84% compared to the previous year. Analysts attribute this muted performance to the critical role of taxation in shaping investor sentiment toward debt instruments.
Meanwhile, appetite for Gold ETFs moderated. Inflows fell to ₹2,265 crore in March, down from the ₹5,254 crore recorded in February. This shift suggests a renewed optimism toward equities as relative valuations became more favorable compared to bullion.
