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Thursday, June 18, 2009

Mutual funds resume selling

Sales worth Rs 179.60 crore on 17 June 2009

Mutual funds (MFs) sold shares worth a net Rs 179.60 crore on Wednesday, 17 June 2009, as against an inflow of Rs 8.60 crore on Tuesday, 16 June 2009.

MFs' net outflow of Rs 179.60 crore on 17 June 2009 was a result of gross purchases Rs 531.40 crore and gross sales Rs 711 crore. The BSE Sensex lost 435.07 points, or 2.91%, to 14,522.84 on that day.

MFs were net sellers of shares worth Rs 1246.90 crore in June 2009 (till 17 June 2009).

The selling by mutual funds was 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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