Mutual funds in selling mode

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CRUDE FALLS 2.6% TO $77.43 BBL
COPPER DOWN TO $6490/TON ON WEAK DEMAND AND US UNEMPLOYMENT DATA
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CO TO LAUNCH ITS 3 SCREENS MULTIPLEX IN KANPUR
DOW JONES UP 0.17%; NASDAQ UP 0.34%; S &P 500 UP 0.25%
RCOM LOSES 0.1%, SHEDS 23.5 LAKH SHARES IN OPEN INTEREST
IDEA LOSES 5.2%, ADDS 30.6 LAKH SHARES IN OPEN INTEREST
ASHOK LEYLAND GAINS 4.9%, ADDS 32.4 LAKH SHARES IN OPEN INTEREST
NIFTY CLOSES JUST BELOW 4800 AFTER A GAP UP OPENING
STRONG AT $1095/OZ AS SAFETY MEASURE POST RISE IN U.S UNEMPLOYMENT DATA
U.S UNEMPLOYMENT DATA AT 26 YEAR HIGH;CRUDE FALLS 2.6% TO $77.43 BBL
SMS BOS < SPACE > MF, MUTUAL FUND QUERY AT 56388
ISSUES REGULATORY FRAMEWORK FOR AUTHORISED PERSONS
AUTHORISED PERSONS CAN FACILITATE TRADING THROUGH BROKER TERMINALS
STOCK BROKERS TO SEEK SEBI APPROVAL FOR APPOINTING AUTHORISED PERSONS
COS GETTING FRESH FDI IN SECTORS WHERE FDI CAPS HAVE GONE UP: SOURCES
NEW NORMS TO CONSIDER TOTAL FOREIGN INVESTMENT NOT TOTAL INVESTMENT: SRCS
CCEA NOD NEEDED ONLY FOR INVESTMENTS OF RS.1200 CR AND ABOVE: SOURCES
GOVT TO EASE NORMS FOR FDI REQUIRING CABINET APPROVAL: SOURCES
NO PLANS TO OFFER HOME LOANS AT 8%: NW
DOMESTIC FUNDS NET BUY RS.236.62 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
FOREIGN FUNDS NET BUY RS.587.02 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
EXL TO ACQUIRE BACK-OFFICE OPS OF AXP BUSINESS TRAVEL IN INDIA FOR $30 MN
EXL ENTERS MULTI-YEAR SERVICES PACT WITH AMERICAN EXPRESS

Updated: 02/09/2008 | 12:00 AM IST

Mutual fund

Capital Market

Tuesday, September 02, 2008 (New Delhi)

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Mutual funds sold shares worth a net Rs 80.70 crore on Monday, 1 September 2008, compared to net purchases worth Rs 398.40 crore on Friday, 29 August 2008.

Mutual funds net outflow of Rs 80.70 crore on 1 September 2008 was a result of gross purchases Rs 311 crore and gross sales Rs 391.70 crore. The market ended with small losses on Monday, 1 September 2008, staging a smart comeback from an intra-day fall. BSE Sensex lost 66.02 points or 0.45% at 14,498.51, recovering from an intra-day fall of 283.43 points.

Equity mutual funds are sitting on large cash pile and the market may find support once mutual funds start deploying the idle cash. Equity funds are having 11% of assets in cash

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