Mutual Funds Continue Buying Equities

Mutual funds bought shares worth a net Rs 67.40 crore on September 5, lower than their buying worth Rs 98.80 crore on September 4. Mutual funds' net inflow of Rs 67.40 crore on 5 September 2007, was a result of gross purchases Rs 548.80 crore and gross sales Rs 481.40 crore. The BSE 30-share Sensex declined 19.25 points or 0.12% at 15,446.15 on that day. Mutual funds' net inflow totaled Rs 308.70 crore in first three trading session of September 2007. Bargain hunting by domestic institutions including mutual funds helped the market stage a solid rebound from an earlier steep fall that was caused by credit crunch amid US sub-prime mortgage defaults. Mutual funds bought shares worth a net Rs 4093.90 crore in August 2007.