Mutual funds continue to press sales in equities probably to raise cash to meet possible redemption pressure following a sharp setback on the bourses over the past few weeks. On Friday, 4 April 2008, mutual funds sold equities to the tune of Rs 162.50 crore. The net outflow of Rs 162.50 crore on 4 April 2008 was a result of gross purchases Rs 396.80 crore and gross sales Rs 559.30 crore. Sensex plunged 489.43 points or 3.09% at 15,343.12 on that day on fears of monetary tightening by the Reserve Bank of India after the latest data showed a surge in inflation to a 3-year high of 7% in late March 2008.
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