Mumbai, Nov. 9 -- Even as the benchmark Sensex hit record highs in October, inflows into equity mutual funds declined. Data released by the Association of Mutual Funds of India (Amfi) on Friday showed net inflows into equity mutual fund schemes were at 6,037.78 crore in October, down 52.16% from 12,622 crore in same month last year. On a monthly basis, inflows into equity mutual funds were down 10.25% from 6,728.02 crore in September.

Redemption in equity mutual fund schemes also increased in October. According to Amfi, 11,025.26 crore was redeemed, compared to 9,334.3 crore in September, and 10,183 crore in October 2018.

The Sensex gained 3.78% in October, its best monthly performance this financial year, while the Nifty gained 3.51%.