Indians invested a whopping Rs 340 crore per day in SIPs in the month of October — an indicator of how popular they've become
After a dip in popularity in the last fiscal as retail investors exploited the stock market to the hilt in the post-Covid crash, systematic
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plans or SIPs are once again back in favour. Investors are turning cautious on the back of both indices —
Sensex
and
Nifty
— rising more than 100% since the lockdown in March 2020, and SIPs are a sought-after option.
A whopping Rs 340 crore per day, on average, was invested in SIPs by Indians in October. This amounted to a record monthly
SIP
contribution of Rs 10,519 crore — 35% higher than the same period last year when total SIPs amounted to Rs 7,800 crore.
