MFs May Be Net Sellers In June

New Delhi, June 29 | Updated: Jul 1 2004, 04:45am hrs
For the first time in the current fiscal, MFs are expected to end up as net sellers. With interest rates expected to harden, MFs as a risk-containment measure have pulled out over Rs 1,188 crore till June 24 against net purchases of Rs 624 crore in May. During the month, FIIs have turned net sellers, pulling out Rs 305 crore till June 28. Since June 21, FIIs have effected net sales of Rs 512 crore, according to data available on the Sebi website. The current financial year for MF debt investments began on a robust note. Funds made net investment of Rs 2,451 crore in April, followed by a sharp dip to Rs 627 crore in May.