Inflows into India's equity mutual funds declined 14.2% in November, after hitting a record high in the previous month, but offset hefty foreign outflows as domestic investors continued their buying spree undeterred by a market correction.

Equity mutual funds saw growth despite a month on month decline. For the month of November, equity schemes recorded inflows of Rs 35,943 crore, down 14 percent from the previous month.

Equity mutual funds witnessed an inflow of Rs 35,943 crore in November, marking a drop of 14 per cent on a month-on-month basis, amid heightened volatility driven by various macroeconomic factors, geopolitical events and US election results.