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Mutual Fund News
Jan 15 2008 5:27PM
Mutual funds step up sales

In continuation of the recent trend, mutual funds pressed sales in equities on Monday, 14 January 2008. Mutual funds sold shares worth a net Rs 551.40 crore on Monday, which was much higher than their outflow of Rs 274.20 crore on Friday, 11 January 2008.

Mutual funds outflow of Rs 551.40 crore on 14 January 2008 was a result of gross purchases Rs 857.70 crore and gross sales Rs 1409.10 crore. Sensex lost 99.40 points or 0.48% to 20728.05 on that day, as index heavyweights ICICI Bank and Infosys Technologies drifted lower.

Mutual funds were in buying mode in equities at the beginning of the year. They turned sellers recently. Mutual funds bought shares worth a net Rs 647.40 crore by the first few days of January 2008.

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