In September 2025, inflows into Indian equity mutual funds dropped ~9% MoM to ₹30,422 crore, while SIP contributions climbed to a record ₹29,461 crore, showing steady retail support. The moderation in lumpsum segments came as market sentiment cooled amid macro uncertainties. Despite FPI outflows, domestic systematic flows cushioned the impact and supported benchmark indices. The trend suggests a shift in investor preference toward disciplined accumulation over timing calls.