Zerodha's Nithin Kamath has posted on social platform X commenting on the inflows in mutual funds in April. Kamath's tweet comes at a time when FIIs have sold around equities worth Rs 70,000 crore in cash last month. This comes after FIIs offloaded their worst month ever in March 2026, offloading Rs 1.11 lakh crore worth of equities. 

Coming back to the social post, Kamath said, "Who are the people who continue to "buy the dip"? Where's all this money coming from?"

Kamath referred to data from Zerodha, which show inflows into equity mutual funds in April amounted to Rs 40.4K crore, rising 55.38% from March 2026. 

Kamath wondered in his post that where is all this money coming from?

On similar lines, flows into index funds zoomed 156% to Rs 8.2k crore in last month against Rs 3.2 k crore in March 2026. 

 While FIIs continued their selling spree in April, Equity MFs and Index funds witnessed robust inflows in the same moth. reacting to this, Kamath asked in his tweet that who are the people who bought the dip.

Replying to his tweet,  one X user with account id @Malay4Product said, "The money is coming from our salary, Nithin. And about 9.7 crore other SIP accounts that auto-debit on the 5th of every month whether the market is green or red.

March 2026 SIP inflow was Rs 32,087 crore. That is a record. FPIs sold 1.14 lakh crore that same month and mutual funds bought 1.05 lakh crore back. Almost a perfect offset."

Anand Chaudhari with X account id @TradesByAnand in a hilarious reply said: "Work 9-5- Get salary-Buy the dip-Watch it dip further-Work 9-5."

Malhar, another X user said the source of inflows into funds is "Mostly SIP flows + retail participation. Monthly automatic inflows keep coming regardless of market sentiment, and years of 'buy every dip' working has conditioned investors to stay aggressive. Liquidity itself is now a major market driver."