The Unit Trust of India (UTI) and the Life Insurance Corporation of India (LIC) almost abstained from buying stocks in the secondary market during the quarter ended December 2002.
According to data available on the Bombay Stock Exchange website for the period between September 31, 2002, and December 31, 2002, the institutions moderately churned their portfolios.
UTI, which was an aggressive seller in the market before the declaration of a bailout package for its beleaguered scheme US-64, was almost inactive in the market.
LIC, which is reported to be active in the market during the September-December quarter, book profits in a few scrips and made selective buying.
During the quarter, UTI was a seller on selective counters such as software, pharmaceuticals and banking sectors. The fund also sold multinational and public sector company stocks.
The top stocks in UTI
