Mutual Funds In Selling Mode In Equities

Mutual funds (MFs) sold shares worth Rs 427.20 crore on Wednesday 4 July 2007. They had bought shares worth a net Rs 54.80 crore on Tuesday 3 July 2007. Mutual funds' net outflow of Rs 427.20 crore on 4 July 2007 was a result of gross purchases of Rs 529.70 crore and gross sales Rs 957 crore. The BSE 30-share Sensex rose 73.73 points or 0.50% at 14,880.24, an all time closing high on that day. Mutual Funds sold equities worth Rs 602 crore in the first few days of month of July, till 4 July 2007 Mutual funds had pumped in Rs 9062.34 crore in Indian equity market in the financial year ended March 2007.