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MFs sell Rs. 6.77 billion in April

The diversified equity mutual funds, mid and small cap funds provided good returns compared to the large cap ones

May 09, 2012 3:28 IST | India Infoline News Service

Domestic mutual funds were net sellers in the Indian equity markets in April. They sold Rs. 6.77 billion, while in March they offloaded Rs. 14.12 billion. To attract foreign flows, India has to make the tax policies more predictable.

The diversified equity mutual funds, mid and small cap funds provided good returns compared to the large cap ones. Amongst the sector funds FMCG (fast moving consumer goods) and pharma gave positive returns.However, media & entertainment, banking & financial services,infrastructure and technology were down.

Debt mutual funds, across various categories and periods,showed a decent performance in April. While the FIIs (foreign institutional investors) were net sellers in the Indian debt market. They sold Rs. 37.88 billion(against being net seller to the tune of Rs. 65.89 billion in March 2012).

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