FII: + Rs 1047 ; MF + Rs 419 Cr

Mkt Sources:

FII Gross purchases Rs 4783 Cr, Gross sales Rs 3735 Cr,Net Buyers Rs 1047 Cr.
MF Gross Purchases Rs 1460 Cr, Gross Sales Rs 1040 Cr, Net Buyers Rs 419 Cr.

Our View:

With the clearance on the P notes issues the FII inflows seem to have resumed. The Fed meet is scheduled tomorrow and the rate cut hopes are high. The further inflow of funds would depend largely on that. Any fresh positions at this point must be taken with caution as the indices have just sneaked in the 20,000 levels and are near the all time highs. Value added services by experts is recommended at this stage.