HDFC AMC, Nippon Life AMC decline as equity fund inflows tumble in June

Nippon Life Asset Management slipped 4 per cent to Rs 291, while HDFC AMC dropped 3 per cent to Rs 2,490 in the intra-day trade on the BSE.

Shares of asset management companies (AMCs) were trading weak for the second straight day on Thursday in an otherwise firm market as equity fund inflows fell sharply in June.

Nippon Life Asset Management slipped 4 per cent to Rs 291, while HDFC AMC dropped 3 per cent lower to Rs 2,490 in the intra-day trade on the BSE. On Wednesday, these stocks ended lower between 2 per cent and 3 per cent. In comparison, the S&P BSE Sensex was up 0.80 per cent at 36,618 points at 12:02 pm.

Nippon Life India AMC is the asset manager of Nippon India