Investors put ₹38,307 crore into equity mutual funds in September, up 31% from ₹29,329 crore in August, according to AMFI data.

Small‑cap funds took in ₹9,039 crore and mid‑cap funds ₹7,835 crore. Large‑cap funds saw inflows of ₹859 crore after outflows in August.

Debt outflows

Debt funds saw net outflows of ₹1.83 lakh crore, most of it from liquid funds, which lost ₹95,743 crore. Companies usually withdraw from liquid funds at the end of a quarter to pay advance tax.

Gold ETFs drew ₹4,451 crore. Industry assets fell to ₹82.64 lakh crore from ₹87.08 lakh crore.