Jefferies says mature Indian investor supporting markets near record highs

Jefferies says mature Indian investor supporting shares near record highs.

Global brokerage Jefferies has said that mature domestic investors are helping support Indian equities as benchmark indices trade at record highs.

Sensex and Nifty gained for a sixth straight session on October 23.

Analysts led by Mahesh Nandurkar at Jefferies said the growing maturity of mutual fund investors and rising non-fund domestic flows are key factors behind the market’s resilience.

According to the brokerage, flows into mutual funds, excluding exchange-traded funds (ETFs), have averaged $4.3 billion per month in 2025, accounting for 58 percent of total domestic inflows.

Although slightly lower than the 2024 monthly average of $5.1 billion, the flows have continued despite relatively flat market returns.

Non-fund institutional and pension fund investments have averaged $2.9 billion per month, making up nearly two-thirds of domestic inflows, Jefferies noted.

The brokerage also pointed to a rise in investor holding periods, with 30 percent of Systematic Investment Plan (SIP) assets now more than five years old, compared with 10 percent five years ago. This, it said, indicates growing investor maturity and confidence.

On Thursday, equity benchmarks extended their rally for the sixth straight session amid optimism over a potential India-US trade deal. Fresh foreign fund inflows and buying in information technology stocks also lifted sentiment.

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