The week that was: Here's a list of best mutual funds between May 8 to May 11

Indian equity markets this week touched their historic highs. Nifty 50 is trading over 9400-mark while BSE Sensex is peaking over 30,000 points.

Money finding its way into mutual funds is also rising given the markets and bullish sentiments.

In April, equity mutual funds witnessed an inflow of Rs 9,429 crore, which was highest in four months due to participation from retail investors and steps taken by fund houses to create awareness about MFs, as reported by PTI.

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Equity Mutual Funds: Top performer in this week under this category was Reliance DivePowSDP (G) with net asset value (NAV) of 107.27, giving returns of 3.65%, while Reliance DivePowSec (G) with NAV of 104.56, giving returns of 3.63%.

Next among the top five performer was Reliance ETF Consump (G) with NAV of 43.85, giving returns of 3.26% in just a week. Then Reliance CapBuIISBDP (G) with NAV of 11.53, giving returns of 3.11% and in line with it was Reliance CapBuIISB (G) with NAV of 11.14, giving returns of 3.08%.

Debt Mutual Funds: These are funds that invest in debt instruments e.g. company debentures, government bonds and other fixed income assets. They are considered safe investments and provide fixed returns, explained BankBazaar.

Top performer under this category during the week was RelianceDuFTF IXEDP (G) with NAV of 10.58 giving returns of 1.03% and in line with it was Reliance DuaFTF IXE (G) with NAV of 10.49 giving returns of 1.01%.

Further, then in the list was LIC DualAFTP3DP (G), with NAV of 11.77 giving returns of 0.69% in just one week to its investors and LIC DualAdvFTP3 (G) with NAV of 11.58 giving return of 0.67%. Fifth in the list was LIC DualAFTP2DP (G) with NAV of 11.69 giving return of 0.63%.

Hybrid Funds: According to BankBazaar, these are funds that invest in liquid instruments e.g. T-Bills, CPs etc. They are considered safe investments for those looking to park surplus funds for immediate but moderate returns.

Top performer in this week under this category was RelianceDuaFTFVIA DP (G) with NAV of 12.19 giving return of 2.04% and in line with it was Reliance DualFTF VIA (G) with NAV of 11.87 giving return of 2.02%.

Moving ahead, third in the list was DHFL Pra HybridS23DP (G) with NAV of 12.50 giving return of 1.91% and DHFL Pra HybridS23 (G) with NAV of 11.93 giving return of 1.89%. Fifth was Principal BalancedDP (G), with NAV of 68.42 giving return of 1.85% in one week.

Commodity Mutual Fund: According to Investopedia, Commodity mutual funds typically invest in both the stocks of companies involved in commodities, such as mining companies, and in commodities proper.

There were only two top performers this week under this category. ICICI Pru GoldSaving (G) with NAV of 9.97 giving return of 0.26% and ICICI Pru GoldSav DP (G) with NAV of 10.07 giving return of 0.26% in a week.