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Whenever the BSE Sensex dips below the 10,000-mark, the market has been witnessing vigorous buying from the domestic funds, pushing the Sensex above the psychological mark almost immediately.

According to traders, domestic funds fear that investors would resort to heavy redemption if the Sensex dips below 10K. On the back of this apprehension, the domestic funds are buying aggressively, particularly the index stocks, whenever the BSE Sensex tests 10,000, say marketmen.

Mutual funds were net buyers to the tune of Rs 88.62 crore and Rs 235.21 crore on Monday and Tuesday this week, though they were overall net sellers at Rs 499.70 crore during July so far.

K.S. Badri Narayanan

More Stories on : Stock Markets | Mutual Funds | Ear to the ground

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