Equity MFs begin 2015 with highest stock investments in 7 years

Pump in Rs 1,050 crore in stocks during initial trading sessions of January

Even as Foreign Institutional Investors (FIIs) have begun withdrawing money from Indian shares, their local peers have countered this selling with robust buying.

In the first few sessions till January 8, fund managers have bought equities worth Rs 1,045 crore - the highest in the last seven years.

Prior to this, they have always been net sellers in the beginning of the year.

Even on a day when BSE's Sensex lost nearly 850 points and NSE's Nifty cracked 250 points, equity fund managers did not digress from their strategy of 'buy in dips'. Together, the poured in about Rs 250 crore in a single day while there was panic among majority of traders.

With continuous flow of fresh money from domestic investors, fund managers do not have a dearth of cash in their hands. Experts believe the momentum of 2014, which saw net inflows of Rs 50,000 crore, will continue.