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Equity mutual funds recorded a net addition of 19.53 lakh folios in August, taking the total to 17.32 crore. Mid cap, flexi cap, small cap, and sectoral funds led the gains, despite only four new fund launches during the month.
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Markets posted modest weekly gains with 64% of BSE 500 stocks closing positive. Dilip Buildcon led gainers with 18%, while Godfrey Phillips India topped losers with 9%. Sectoral strength came from capital goods and IT, while consumer durables lagged.
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Nifty extended its eight-day winning streak, reflecting a cautious but positive market outlook. Rupak De of LKP Securities recommends top stock picks for the week, including Railtel, Cochin Shipyard, and Bajaj Finance, while highlighting ITs limited upside, defence opportunities, and expiry-day market adjustments.
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News and Media
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