MFs sold shares worth Rs 9,600 cr in market rally between April and July

Lack of earnings visibility in near-term, investor behaviour contribute to selling

Domestic fund managers are taking money off the table even as the markets have gained over 45 per cent since the lows of the last week of March. 

Fund houses have been net sellers in the current financial year, selling Rs 9,639 crore worth of shares.

Except for May, when markets consolidated and ended in the red, fund houses have been net sellers in all the months, taking advantage of the rally to exit equity positions.

“There has been some lightening up of positions because earnings are not expected to be strong. Mutual fund (MF) industry players might also be seeing weakness