SIP inflows surged to ₹18,838 crore in January, active accounts rose by 1.7 crore: Geojit Report

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₹18,838 crores, marking the seventh consecutive month with inflows surpassing ₹15,000 crores and the twenty-ninth consecutive month with inflows exceeding ₹10,000 crores in January 2024, according to an insights report by Geojit. This robust performance underscores the sustained confidence of investors in systematic investment plans, reflecting a consistent trend of substantial inflows into the market. SIP is a methodical strategy for investing that entails setting aside a modest, predetermined sum of money for market investment at consistent intervals, typically on a monthly basis.

The SIP method stands out as the favored approach for investing in stocks and Mutual Funds due to its ability to facilitate market participation while enhancing risk management capabilities. The report further revealed that the number of SIP accounts soared to a record high of 7.92 crore in January this year, marking a substantial increase year-over-year. Active SIP accounts witnessed a notable uptick, rising by approximately 1.7 crore compared to the previous year, reflecting a significant surge of 27.4%.

This surge underscores the growing popularity and adoption of SIP among investors. The average size of a SIP stood at an estimated ₹2,379 per SIP, reflecting a robust year-on-year growth of 6.7%, according to data by the Geojit report. January 2024 witnessed a remarkable surge in new SIP registrations, reaching a record-breaking 51.8 lakhs, marking an impressive 47% increase from the three-month average.