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Thursday, July 09, 2009

Mutual funds in buying mode

Purchases worth Rs 196.30 crore on 7 July 2009

Mutual funds (MFs) bought shares worth a net Rs 196.30 crore on Tuesday, 7 July 2009, as against an outflow of Rs 587.80 on Monday, 6 July 2009.

MFs' net inflow of Rs 196.30 crore on 7 July 2009 was a result of gross purchases Rs 1,076.60 crore and gross sales Rs 880.30 crore. The BSE Sensex rose 127.05 points or 0.9% to 14,170.45 on that day.

MFs were net sellers of shares worth Rs 460.80 crore in July 2009 (till 7 July 2009).

Mutual funds bought shares worth a net Rs 839.30 crore in June 2009 as they put funds received from investors to use. Reliance Mutual Fund last month mopped up Rs 2350 crore in new fund offer of Reliance Infrastructure Fund . 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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