Mutual Funds Take To Buying

Mutual funds (MFs) were interested in buying on 25 May 2007, after being net sellers for the preceding trading session, as they bought net equity shares worth Rs 38.30 crore. MFs made gross sales worth Rs 523.80 crore, while their gross purchases aggregated Rs 562.10 crore on that day. The market saw a complete trend reversal on Friday, 25 May 2007, and settled with gains from initial weakness. The Sensex jumped 120.34 points, or 0.85%, to 14,338.45. Shares from IT sector led the rally today. So far for the month (till 25 May), MFs bought shares worth Rs 1279.39 crore. Mutual funds had pumped Rs 9062.34 crore into the Indian equity market in the financial year ended March 2007.