Mutual Funds Increase Buying

Domestic mutual funds (MFs) continue to buy for the second straight day, to the tune of Rs 607.50 crore on 17 May 2007. MFs made gross purchases worth Rs 1098 crore, while their gross sales aggregated Rs 490.50 crore on that day. So far for the month (till 17 May), MFs have invested Rs 2549.90 crore in Indian equity market. Mutual funds had pumped Rs 9062.34 crore into the Indian equity market during the financial year ended March 2007.