Skip to main content

MUTUAL FUNDS EQUITY FOLIO RISE BY 84000

Equity mutual funds witnessed an addition of nearly 84,000 investor accounts or folios during the April-June quarter of this fiscal, helped mainly by sharp rise in stock market. Folios are numbers designated to individual investor accounts, though one investor can have multiple folios. According to the Securities and Exchange Board of India (Sebi) data on total investor accounts with 44 fund houses, the number of equity folios rose to 2,92,64,713 at the end of June 2014, from 2,91,80,922 at the end of the last fiscal (March 31, 2014), registering a gain of 83,791 during the three-month period. The additions came at a time when the market was scaling new highs. In May, the number of equity mutual fund (MF) folio stood at 2,92,19,875, while it was 2.96 crore at April-end. Besides, the month of April saw the first rise in more than four years. Prior to that, the equity MF sector had seen a continuous closure of folios since March 2009 after the market crashed due to the global financial crisis in late 2008. Since March 2009, it has seen a closure of 1.5 crore folios. The investor base reached at its peak of 4.11 crore in March 2009, while it was 3.77 crore in March 2008. On the rise in the folios last month, analysts said that robust market performance over the past few months helped investors renew faith in stock market. Besides, the industry saw a record Rs 7,309 crore net inflows in equity funds in June, which helped the industry grow its folio count. "The increase in investor base into equity mutual funds is a positive development for the markets. Since markets have been rising, investors seem to have realised that they are missing out on a big opportunity," ICICI Prudential AMC CIO S Naren said. Axis AMC Senior Fund Manager (Equity) Pankaj Murarka said: "The trend of rise in new accounts in equity mutual fund is expected to accelerate as the increase is too small." The BSE's benchmark Sensex breached 25,000 mark in June, NSE's Nifty closed at its the then all-time high of 7,600 points during the month.

Comments

Popular posts from this blog

JIO TARIFF CICK FOR TELECOM STOCKS

Telecom stocks today surged up to 8 per cent after the recent increase in Reliance Jio tariffs, which is largely seen as positive for the sector. Shares of Bharti Airtel jumped 4.99 per cent to close at Rs 497.50 on BSE. Bharti Airtel was the biggest gainer among the 30-share index components. The scrip of Idea Cellular soared 7.74 per cent to end at Rs 98.15 and Reliance Communications zoomed 7.60 per cent to Rs 17.70. Reliance Jio made its service dearer by about 15 per cent for its popular 84-day plan at Rs 459 from October 19, under which subscribers get 1GB 4G data at high speed per day. The company restructured its various schemes by reducing their validity period. The recent increase in Reliance Jio tariffs will increase its average revenue per user by up to 20 per cent and is a positive for the telecom sector, which is seeing a rapid consolidation, says a Philip Capital report. Established telecom sector players have seen huge reduction in their margins. Idea Cellular and Reli…

INVESTORS RICHER BY Rs. 25 LAKH CRORES IN SAMVAT 2073

Stock markets ended on a flat note on Wednesday, just below their record highs, but finished Samvat 2073 with robust gains of over 16 per cent. Equities added over Rs 25 lakh crore to investors' wealth this Samvat year. The benchmark Sensex has gained 4642.84 points, or 16.61 per cent, in the Hindu Samvat year 2073, while the broader NSE Nifty surged 1572.85 points, or 18.20 per cent during this period.
Small loss in last session
In the last session of the Samvat 2073 on Wednesday, the 50-share Nifty fell by 23.60 points or 0.23 per cent to close at 10,210.85 after moving between 10,175.75 and 10,236.45. The Sensex resumed lower at 32,518.56 and fell further to a low of 32,462.85 before ending at 32,584.35, down 24.81 points or 0.08 per cent. Investors adopted a cautious approach ahead of the long Diwali weekend, while a weak rupee too affected sentiment, brokers said.
- Axis Bank emerged as the worst performer among Sensex components, tumbling 9.52 per cent following a spike in ba…

BIRLAS ENTER TOP LEAGUE WITH $50 BILLION M CAP

The Aditya Birla group has entered the top valuation league with a market cap of over USD 50 billion post listing of financial services arm Aditya Birla Capital (ABCL), but Tatas remain on top with over USD 132 billion.
The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs 3,42,354.87 crore (USD 53.5 billion) at the end of Friday's trade.
Among various listed companies of the group, UltraTech Cement's valuation stood at Rs 1,10,097.70 crore at the end of Friday's trade while that of Grasim Industries was Rs 76,881.73 crore.
The newly-listed Aditya Birla Capital's market capitalisation was over Rs 55,000 crore, Hindalco (Rs 54,607.09 crore), Idea Cellular (Rs 32,064.91 crore), Aditya Birla Fashion and Retail (Rs 13,155.73 crore) and Aditya Birla Money (Rs 547.71 crore).
Among Indian conglomerates, the Tata group remains on the top in terms of total valuation of listed firms with about Rs 8,46,567 crore (USD 132.5 billion).
There are 29 pu…