According to recent NSE data, pension-fund category inflows into Indian equities touched about ₹37,409 crore in the three months ending September 2025 — the highest rolling-three-month total since records began. The surge reflects growing institutional interest in equities as long-term asset class, aided by stable regulatory policy and rising retirement assets. Analysts say while this boosts structural demand, near-term equity returns will still depend on earnings growth, global trade dynamics and valuation discipline. Investors may watch whether pensions become a persistent anchor to Indian markets.