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Wednesday, September 16, 2009

Mutual funds in buying mode

Make small purchases after heavy sales in four days

Mutual funds made purchases in equities on Tuesday, 15 September 2009, after pressing heavy sales in the preceding four trading sessions. They bought equities worth a net Rs 98.10 crore on 15 September 2009.

The net inflow of Rs 98.10 crore on 15 September 2009 was a result of gross purchases Rs 822.60 crore and gross sales Rs 724.50 crore. The market surged that day on reports of higher advance tax payment by some top Indian firms. A survey showing an improvement in business confidence of Indian Inc also boosted sentiments. The BSE 30-share Sensex rose 240.26 points or 1.48% to 16,454.45, its highest closing since 28 May 2008

Mutual funds offloaded stocks worth a net Rs 11213.70 crore in four trading sessions from 9 September 2009 to 14 September 2009. The net sales totaled Rs 853.60 crore in the month of September 2009 (till 15 September 2009). Mutual funds had bought shares worth a net Rs 570.30 crore in August 2009.

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