Street signs: MFs hit sell button, SLB mechanism gains traction, and more

According to data from stock exchanges and Sebi, domestic funds pulled out around $500 million while FIIs buying in the past few sessions neared $1 billion

MFs hit sell button 

Mutual funds (MFs) sold aggressively last week as foreign institutional investors (FIIs) stepped up buying. According to data from stock exchanges and the Securities and Exchange Board of India (Sebi), domestic funds pulled out around $500 million while FIIs buying in the past few sessions neared $1 billion. The churn took place amid flaring up of tensions between India and Pakistan. “MFs took advantage of huge FII buying interest seen in the past few sessions. Moderating flows into equity schemes means MFs may not be big buyers like they were last year,” said an analyst.

Samie Modak

Mazagon Dock