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Thursday, July 02, 2009

Mutual funds in selling mode

Sales worth Rs 166 crore on 1 July 2009

Mutual funds (MFs) sold shares worth a net Rs 166 crore on Wednesday, 1 July 2009, lower than Rs 280.10 crore on Tuesday, 30 June 2009.

MFs' net outflow of Rs 166 crore on 1 July 2009 was a result of gross purchases Rs 625.20 crore and gross sales Rs 791.20 crore. The BSE Sensex gained 151.63 points or 1.05% to 14,645.47 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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