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Dinesh Narayanan

A LARGE domestic mutual fund is said to have sold stocks from its index fund on Monday on a large scale.

While other mutual funds were also said to be booking profits at many counters, this fund, with about Rs 150 crore invested in index stocks, has been a bigger seller at about Rs 35-40 crore. Dealers said the fund, which tracks the Nifty, is likely to declare a hefty dividend and the selling was likely to meet the pay-out.

The Nifty lost 26.75 points to close the day at 1542.70.

Backers galore for SKF

THE stock of Bangalore-based SKF Bearings has been an investor favourite for the past few days. Several brokers are recommending the stock to their clients. While some dealers expect some "news" from the company, others merely say that it looks good on the charts.

The SKF share has moved up from Rs 71-72 levels a week ago to Rs 88.50 at close on Monday. That was 1.84 per cent more than its previous close on the NSE.

Trading volume has also risen to about 4.7 lakh on the BSE and 6.20 lakh on the NSE.

Festival bonanza

THE festival season appears to be working wonders for the Pantaloon Retail stock. The retail chain, which sells every thing from grocery to apparel, is high on the shopping list of several investors.

"Footfalls" have been high, which means higher sales, which in turn, means higher profits, say dealers, who have been buying at the counter actively.

Diwali appears quite lit up for Pantaloon Retail whose share has gone up nearly 3.5 per cent on Monday. It closed at Rs 207.55 on the NSE with about 2.15 lakh shares traded. The trading volume on the BSE stood at 1.65 lakh shares.

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