Indian mutual funds invested Rs 1.82 lakh crore in equities for 2022-23, demonstrating a bullish outlook largely due to interest from retail investors and market valuation corrections. Financial services held the largest allocation in mutual fund portfolios followed by IT, capital goods, auto, and healthcare. In contrast, debt funds saw outflows of over Rs 40,600 crore, primarily due to the Reserve Bank of India's monetary policy tightening.