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Equity indices in India have been reaching new all-time highs regularly over the past few weeks. One reason for this performance is the strong support from domestic institutions, especially mutual funds. The latest data for June mutual funds shows that net inflows into equity mutual funds surged 17 per cent sequentially to a record high of ₹40,608 crore, bolstered by an inflow of ₹14,370 crore from 11 new equity fund offerings.