Mutual Funds On Selling Spree

Mutual funds (MF) continued to sell for the fourth consecutive day after they sold shares worth a net Rs 37.84 crore on 7 February 2007 compared to Tuesday’s (6 January) sales of Rs 28.28 crore. MFs reported gross sales worth Rs 800.69 crore and their gross purchases aggregated Rs 762.85 crore on Wednesday (7 February 2007). The 30-share BSE Sensex jumped 164.94 points (1.1%), to a lifetime closing high of 14,643.13 on 7 February 2007. MFs net outflow from April 2006 - February 2007, till 7 February 2007, stand at Rs 1342.23 crore.