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Friday, July 03, 2009

Mutual funds continue selling

Sales worth Rs 207.10 crore on 2 July 2009

Mutual funds (MFs) sold shares worth a net Rs 207.10 crore on Thursday, 2 July 2009, higher than Rs 166 crore on Wednesday, 1 July 2009.

MFs' net outflow of Rs 207.10 crore on 2 July 2009 was a result of gross purchases Rs 755.70 crore and gross sales Rs 962.80 crore. The BSE Sensex rose 13.02 points or 0.09% to 14,658.49 on that day.

Mutual funds bought shares worth a net Rs 839.30 crore in the month just gone by as they put funds received from investors to use. 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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