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Tuesday, June 30, 2009

Mutual funds continue buying

Purchases worth Rs 369.60 crore on 26 June 2009

Mutual funds (MFs) bought shares worth a net Rs 369.60 crore on Friday, 26 June 2009. Though substantial the inflows were much lower than Rs 691.60 crore in the preceding trading session on Thursday, 25 June 2009.

MFs' net inflow of Rs 369.60 crore on 26 June 2009 was a result of gross purchases Rs 1,219.70 crore and gross sales Rs 850.10 crore. The BSE Sensex surged 419.02 points or 2.92% to 14,764.64 on that day.

MFs have bought shares worth Rs 944.10 crore in June 2009 (till 26 June 2009).

Mutual funds are deploying fresh investor funds in the market. The recently concluded new fund offer of Reliance Infrastructure Fund received a strong investor response, with estimated collections of Rs 2500-Rs 3000 crore. As the name suggest, the fund is focused on the infrastructure sector.

Net inflows into domestic equity mutual funds rose to Rs 1,930 crore in May 2009, the highest in 14 months, and more than twice the amount in the first four months of 2009, according to data from the Association of Mutual Funds in India.

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