Mutual Funds In Buying Mood

Mutual funds (MFs) acquired shares worth Rs 153.30 crore on 28 May 2007, as compared to an inflow of Rs38.30 on 25 May 2007. The BSE Sensex, which stayed above the 14,500 level, for most of the day, suddenly started declining in late afternoon trade, on heavy profit booking on 28 May 2007. It gained 59.44 points or 0.41% to settle at 14,397.89. MFs reported gross sales worth Rs 717.30 crore, while their gross purchases aggregated Rs 870.60 crore on 28 May 2007. So far for the month (till 28 May), MFs were net buyers of Rs 1432.69 crore in the Indian equity market. Mutual funds had pumped Rs 9062.34 crore into the Indian equity market in the financial year ended March 2007.