Indian equity markets have had a great run-up in the last ten days. The BSE Sensex created a record of the fastest 1000 points gain in just five trading sessions to conquer the 17000 mark. And now it is at a shouting distance of 18000.

In this period (between September 20 and October 04, 2007) the Foreign Institutional Investors, FIIs have been very bullish on the Indian equity market and have pumped in Rs 18251 crore during this period.

But Moneycontrol research data shows that during the same period Mutual Funds, MFs were booking profits. It shows a withdrawal of Rs 1726 crore. (See the table given below).

It also shows that out of last ten trading session, for seven sessions alone MFs were net sellers. However, FIIs were net buyers throughout these ten days.

Markets are in an uptrend since FIIs are displaying their buying interest. But if FIIs shake their hands with MFs won't the party extend longer?

 

Date	Net Purchase/ Sales
	MFs	FIIs
04-Oct-07	-532.50	575.00
03-Oct-07	-102.10	3161.50
01-Oct-07	-127.80	2196.00
28-Sep-07	31.20	3493.30
27-Sep-07	92.70	2433.30
26-Sep-07	-517.50	1003.90
25-Sep-07	-430.60	1550.20
24-Sep-07	-35.40	1284.40
21-Sep-07	128.70	924.30
20-Sep-07	-233.40	1629.50
Total	-1726.70	18251.40