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Wednesday, June 17, 2009

Mutual funds in buying mode

Purchases worth Rs 8.70 crore on 16 June 2009

Mutual funds (MFs) bought shares worth a net Rs 8.70 crore on Tuesday, 16 June 2009, as against an outflow of Rs 481.70 crore on Monday, 15 June 2009.

MFs' net inflow of Rs 8.70 crore on 16 June 2009 was a result of gross purchases Rs 789.20 crore and gross sales Rs 780.50 crore. The BSE Sensex rose 82.39 points, or 0.55%, to 14,957.91 on that day.

MFs were net sellers of shares worth Rs 1067.30 crore in June 2009 (till 16 June 2009).

The selling by mutual funds this month is despite fresh inflows into equity schemes. 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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