• Source:JND
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Mutual Fund:  Be it villages, towns or big cities, people across India are shifting their minds toward investment and mutual funds have become one of the top priorities for them. Year after year, the fund flow in the stock market through mutual fund houses has been increasing significantly. However, there is a long way to go to achieve uniformity in term of in terms of state-wise investment volume as most of the cash flow is coming from a few states only.  People from Maharashtra invest the most money in mutual funds, followed by Delhi and Gujarat. According to data from September 2024, 56% of India's total mutual fund management assets come from these three states and Maharashtra has the largest AUM among these top states.

Of the total 67.09 lakh crore, Maharashtra's contribution is Rs. 27.49 lakh crore as of September 2024. Delhi and Gujarat contributed Rs. 5.49 lakh crore and Rs. 4.82 lakh crore, respectively.

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Where do Uttar Pradesh And Bihar Stand?

Uttar Pradesh is ranked sixth among investors investing in mutual funds, investors from the state have invested Rs 323,200 crore in mutual funds. The ranking of Bihar is 16th with an investment of Rs. 69,000 crore in mutual funds. In terms of percentage, approximately 92 per cent of Tripura's total AUM came from equity funds. It is followed by Jammu and Kashmir, Arunachal Pradesh, and Andaman and Nicobar Islands, where equity funds accounted for 91 per cent of the assets.

Stock Market Yesterday

The domestic stock market recovered from early losses on Tuesday and ended in the green on the back of strong buying in banking, steel, and petroleum and gas stocks. The Sensex rose 694 points to close at 79,476.63 points. During the day's trading, it had climbed 740.89 points to hit a high of 79,523.13 points.

The Nifty closed at 24,213.30 points, up 217.95 points. The stock market opened weak and traded in a narrow range with a negative trend in the first half. During this period, the Sensex fell to a low of 78,296.70 points and the Nifty fell to a low of 23,842.75 points. However, buying in the afternoon session helped the indices recover their losses and end in the green.

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