Mutual funds increase buying in equities

Domestic mutual funds (MFs) beef up buying 30 May 2007. They bought shares worth a net Rs 354.70 crore compared to a net outflow of Rs 4.20 crore on 29 May 2007. MFs made gross purchases worth Rs 874.10 crore, while their gross sales aggregated Rs 519.50 crore on that day. Till now for the month (till 30 May), MFs were net buyers of Rs 1783.09 crore in the Indian equity market. Mutual funds had pumped Rs 9062.34 crore into the Indian equity market in the financial year ended March 2007.