Mutual Funds Sell Equity Worth Rs 1679 Cr

Domestic mutual funds (MFs) began the month upbeat, as they purchased shares worth a net Rs 63.56 crore on Monday (2 April 2007). MFs reported gross purchases worth Rs 461.70 crore, their gross sales aggregating Rs 398.14 crore on March 29. MFs were net sellers to the tune of Rs 1679.51 crore in March 2007. The Sensex had plunged 617 points, its second-biggest, single-day loss, ever, to close at 12,455, after the Reserve Bank of India (RBI), raised two key policy rates.