Mutual Funds Turn Sellers In Equities

Mutual funds (MFs) sold shares worth Rs 371.90 crore on Monday, 16 July 2007. They had bought shares worth a net Rs 295.40 crore on Friday, 13 July 2007. Mutual funds' net outflow of Rs 371.90 crore on 16 July 2007 was a result of gross purchases of Rs 558.20 crore and gross sales Rs 930.10 crore. The 30-share BSE Sensex gained 38.50 points, or 0.25%, to 15,311.22, an all time closing high on that day. Mutual funds sold equities worth Rs 915.20 crore in the first few days of July, till 16 July 2007. Mutual funds had pumped in Rs 9062.34 crore in Indian equity market in the financial year ended March 2007.