Mutual funds in buying mode

Mutual funds (MFs) bought shares worth a net Rs 219.20 crore on Monday, as against an outflow of Rs 212.90 crore on Friday, 20 November 2009.
The net inflow of Rs 219.20 crore on 23 November 2009 was a result of gross purchases Rs 676.20 crore and gross sales Rs 457 crore. The BSE Sensex rose 158.33 points or 0.93% to 17180.18 on that day.

MFs sold shares worth a net Rs 324.80 crore in November 2009 (till 23 November 2009). MFs had sold shares worth a net Rs 5,194.30 crore in October 2009.

As per the latest data released by the Association of Mutual Funds in India (AMFI), investors pulled out a net Rs 2123 crore from equity schemes in October 2009. Existing open-ended equity schemes garnered a gross Rs 4261 crore in the month and saw a gross redemption of Rs 5558 crore. Close-ended funds saw redemption of Rs 804 crore and interval funds saw redemption of Rs 22 crore.

Meanwhile, Religare Mutual Fund has garnered Rs 229 crore in its new fund offer (NFO) of Religare PSU Equity Fund. The fund plans to invest in companies where the central/state government has majority shareholding or where the management control lies with the government. The scheme was open for subscription from 29 September 2009 to 28 October 2009.

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