HDFC AMC extends losses, falls up to 3% on February mutual fund data

Top gainers and losers today: Stocks that moved the most on March 12

HDFC AMC share price extended its losses to fall up to 3 percent in Thursday's trade as the monthly systematic investment plan (SIP) inflows into mutual funds fell to a three-month low of Rs 25,999 crore in February as market selloff intensified. The SIP inflows in January stood at Rs 26,400 crore, a tad lower from December’s Rs 26,459 crore.

Equity mutual fund inflows in February slumped 26 percent from the previous month to Rs 29,303.34 crore, data released by the Association of Mutual Funds of India (AMFI) on March 12 shows.

Consequently, shares of HDFC Asset Management Company Ltd fell 2.86 percent to an intraday low of Rs 3,660 per share. The stock has been falling for the last two trading sessions.

UTI Asset Management Company was also trading under selling pressure and was down 0.39 percent to Rs 938.70 apiece on the NSE at around 10:40 AM.

Pankaj Shrestha, Head of Investment Services, PL capital said "despite this dip, the market has sustained positive inflows for 48 consecutive months, reflecting continued investor confidence. Notably, large-cap funds saw a slight decline but held up relatively better than other categories, indicating investors' preference for stability amid market volatility."

SIP inflows drop to 3-month low of Rs 25,999 crore in February

According to the AMFI data, total assets under management (AUM) via SIPs moderated to Rs 12.38 lakh crore in February against Rs 13.20 lakh crore in the previous month due to a mark-to-market (MTM) hit.

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