Financial Daily from THE HINDU group of publications
Tuesday, Jan 01, 2002
Financial Daily from THE HINDU group of publications Tuesday, Jan 01, 2002 |
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Mutual Funds Markets - Mutual Funds US-64 takes a beating on NSE Our Bureau
MUMBAI, Dec. 31 The unit prices of UTI's flagship scheme, US-64, crashed today on the stock exchanges after the announcement of its net asset value (NAV). The US-64 unit crashed by the 20 per cent limit on the National Stock Exchange (NSE) at Rs 6.25. It opened at Rs 6.50 in the morning and even touched a day's high of Rs 6.90, but sharp selling pulled down the price to Rs 6.25. A total of 3,03,884 units were traded on the exchange. Meanwhile, there was routine work at the UTI counters in Mumbai today after the disclosure of the NAV on Saturday evening. Some of the unit holders were seen redeeming the maximum of 3,000 units of US-64 they could sell till today. However, most of the investors with whom Business Line spoke to were disappointed with the UTI performance. They said they were expecting an NAV of around Rs 8 per unit.
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