MFs turn net sellers in April, offload equities worth Rs 5,100 crore

Mutual funds (MFs) turned net sellers of equities in April amid a run up in stock prices on sustained inflows from foreign portfolio investors (FPI).

The benchmark indices, Sensex and Nifty50, logged their biggest monthly advance since November last year, gaining 3.6 per cent and 4.1 per cent last month.

Data from the Securities and Exchange Board of India (Sebi) shows that MFs sold equities worth over Rs 5,100 crore in April, the highest since February 2021. This is only the second month in the last two years when MFs have been net-sellers on a monthly basis.

Prior to April,