ET Intelligence Group: Big money, especially in the short run, often moves in the direction opposite to that of the movement in benchmark indices. Take the mutual fund stats, for instance, to test the theory.
Last month, the benchmark equity gauges climbed about a fifth from the recent lows reached on March 23. That climb, however, coincided with the biggest selling by mutual funds in at least four years, the Securities and Exchange Board of India (Sebi) data showed.
