The Unit Trust of India (UTI) and the Life Insurance Corporation of India (LIC) almost abstained from buying stocks in the secondary market during the quarter ended December 2002.
According to data available on the Bombay Stock Exchange website for the period between September 31, 2002, and December 31, 2002, the institutions moderately churned their portfolios.
UTI, which was an aggressive seller in the market before the declaration of a bailout package for its beleaguered scheme US-64, was almost inactive in the market.
Also Read
LIC, which is reported to be active in the market during the September-December quarter, book profits in a few scrips and made selective buying.
During the quarter, UTI was a seller on selective counters such as software, pharmaceuticals and banking sectors. The fund also sold multinational and public sector company stocks.
The top stocks in UTI
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app