In the first week of September, there is some cheer for mutual fund investment in India. When you compare mutual funds in India, the banking mutual funds started from where they left off last month. In the first week, they again outperformed their other mutual funds in India.

Reflecting the trend in the broader markets, the IPO market in India remained more than subdued this week. Almost, like a polar bear hibernating in the winters in the absence of any IPO related news, except investors losing over Rs 5,000 crore in 2008 IPOs.