Mutual funds in selling mode

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Seeks increase in duty drawbacks and DEPB by 3%
Wants a minimum ceiling of 7% on export credit
Needs an additional 2% interest subvention
Bags order from Southern Railways worth Rs.110cr
India fairly insulated due to robust domestic demand
Pvt held business owners with 83% level of optimism
Travel and tourism remains relatively insulated
Majority of countries view 2009 as a difficult year
Fitch withdraws rating on Jindal Stainless
L&T bags order worth Rs.1100 crores
Key clients confidence is shaken in Satyam
Satyam could become vulnerable for acquisition
Satyam could face pricing pressure due to the situation
100 people a diminutive no.; not indicative of anything
Software, BPO staff among those planning to quit: Srcs
Resignations seen in lower, mid level management: Srcs
100 more may resign; to wait for board meet on 10th: Srcs
120 employees resign post Maytas fiasco: Sources
Senior mgmt unhappy with board decisions: Sources
To consider acquisition of housing finance co on Jan 8
Punj Lloyd wins order worth Rs 264cr for Sikkim Airport
Q2 Net Sales at Rs. 214.79cr vs Rs.162.71cr (QoQ)
Q2 PAT at Rs.31.03cr vs Rs.15cr (QoQ)
Nod for Gabapentin capsule from Health Canada
Expect Wipro to miss guidance in Q3
50% weight of Index under stress for Q3 earnings
Sensex FY'09 EPS may fall to Rs.880/sh post Q3 nos
HCL Tech had deferred Oct joining dates to Jan: NW
Defers joining date of some recruits by 3 months: NW
Magnitude of global eco slowdown to determine markets

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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