Equity mutual funds posted strong results in October, generating as much as 9% returns amid broad-based gains across thematic and sectoral schemes. Analysts attributed the rise to favorable earnings, stable domestic inflows, and consistent SIP participation. Midcap and infrastructure themes led the rally, supported by robust economic data. Fund houses such as ICICI Prudential, Kotak, and Mirae Asset recorded notable NAV appreciation. Industry observers expect performance momentum to extend into November, though caution remains around global policy risks and oil price volatility.