MFs defy turbulent times at D-Street; pump in over $5 bn

Domestic mutual funds appear to have sensed opportunities in the recent stock market turmoil and have pumped in close to Rs 20,000 crore (over $5 billion) since January 11, when the nightmares for the bourses began. Despite some brief recovery in a few trading sessions, including a gain of about 600 points on Friday last week, the stock market benchmark Sensex is still close to 2,400 points or more than 11 per cent below its January 10 level. The total market value of all the listed companies has dropped by close to Rs 12 trillion during this period in a plunge primarily driven by foreign investors and some panic selling by retail investors.