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I can't rule out the possibility of it when most reputed banks in the industry has CCD at 79%.

I found a information from reliable source that most of the mutual funds under
commercial banks are sellig stocks and transfering cash to their respective banks
as deposits to maintain CD ratio. If so , it is irresponsible and market destroying
activity.All should raise their voice against it. Mutual funds are making profit
not having board of directors representing their investors. This activity may be
the cause of rapid market downfall.