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Thursday, June 25, 2009

Mutual funds step up buying

Purchases worth Rs 389.30 crore on 24 June 2009

Mutual funds (MFs) bought shares worth a net Rs 389.30 crore on Wednesday, 24 June 2009, much higher than Rs 81.90 crore on Tuesday, 23 June 2009.

MFs' net inflow of Rs 389.30 crore on 24 June 2009 was a result of gross purchases Rs 886.90 crore and gross sales Rs 497.60 crore. The BSE Sensex rose 98.72 points or 0.69% to 14,422.73 on that day.

MFs were net sellers of shares worth Rs 117.20 crore in June 2009 (till 24 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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