The month of September brought with it an occasion to cheer in the Indian stock markets. Huge foreign inflows into the markets drove benchmark index BSE Sensex past the 20000 points milestone, showing a gain of 11.67% during the month, and closed at 20069 points. Meanwhile S & P Nifty registered a growth of 11.62% to close at 6029.95 points. Foreign investors brought in USD 6 billion during the month, while domestic investors were net sellers.
With equity markets around the world doing well during the month, on the sectoral front, almost all sectors were in the green. Some sectors, however were seen to lead the rally. BSE Metal lead the rally and showed a gain of 12.6% to close at 16865 points. Falling close in line, were sectors of Realty, IT and FMCG with BSE Realty, BSE IT and BSE FMCG showing a respective increase of 11.86%, 9.88% and 10.63%. The rally in the market is bringing about hopes of seeing the peak observed in January 2008.
In September 2010, the Average Assets Under Management (AAUM)of the Indian Mutual Fund Industry grew by 3.7% to close at Rs. 7.13 Lakh Crore. We are pleased to note that the AAUM of SBI Mutual Fund for the month of September 2010 closed at Rs.42,100 Crore, showing a growth of 9.2%. We would like to thank our investors for their continued trust and investments across our schemes.
In our continued endeavor to create and distribute wealth to our investors, we declared dividend of Rs. 7.0 per unit in Magnum Multiplier Plus Scheme 1993. The scheme is one of our flagship equity offerings that invests in stocks of high growth companies with an objective to derive long-term capital appreciation. We would also like to draw your attention towards Magnum Equity Fund, which is one of our oldest equity offerings, that has shown a good track record of performance since 1991. The scheme provides a good exposure of a diversified equity portfolio to our investor. To know more about our schemes, and how they fit your risk-return profile and investment objectives, we would invite you to visit your nearest SBI Mutual Fund Investor Service Center.
We are absolutely committed to provide unparalleled service to our investors’ and cater to your information, investment and servicing needs. Please feel free to call at our dedicated customer care numbers 1-800-425-5425 (MTNL/BSNL users only) and 080-26599420 from Monday to Saturday (8am – 10pm) or write to us at email@example.com with your queries. Alternatively you can also visit your nearest Investor Service Centre / Investor Service Desk for any assistance.