Another weak session for MF NAVs as mkts slip

Equity diversified NAVs continued to drift lower and ended on a weak note with negative advance:decline ratio of 6:195 as the markets lost ground completely in late trade after remained volatile since morning and not reacted fully to inflation numbers. Both indices ended sharply lower led by selling in FMCG, realty, metal, banking and pharma stocks. Midcap and small cap indices also finished weak. The Sensex plunged 197.54 points or 1.25% to settle at 15,572.18 after hitting an intraday high of 15,970.70 and low of 15,526.50. The Nifty closed at 4627.80, down 49.15 points or 1.05% and touched a high/low of 4746.30 and 4614.25.

On the sectoral front, banking, FMCG, technology and pharma funds declined while auto funds advanced. Balanced and tax saving funds also finished lower.

Long term debt funds closed mixed with negative bias, advance:decline ratio stood at 32:36.

• Equity diversified NAVs end on a weak note
• Banking, FMCG, technology and pharma funds decline
• Auto funds advance
• Balanced and tax saving funds finish lower
• Long term debt funds close mixed with negative bias

Among the equity diversified funds, the top gainer were Birla Sun Life International Equity Fund - Plan A (G) up 0.88%,  JM Equity Fund (G) up 0.64% and JM Contra Fund (G) up 0.59%.  The top losers Birla Sun Life Frontline Equity Fund (G) down 1.43%. ING Dividend Yield Fund (G) down 1.40% and Birla Advantage Fund (G) down 1.36%.

Among the tax saving funds, the only gainer was JM Tax Gain Fund (G) up 0.63%  The  top losers  were  Escorts Tax Plan (G) down 1.28%,  Sahara Tax Gain (G) down 0.02%. and Canara Robeco Equity Tax Saver down 1.09%.

Among the sector funds, the only gainer were JM Auto Sector Fund (G) up 0.20%, UTI Auto Sector Fund (G) up 0.07% and  Tata Life Sciences & Technology Fund (G) up 0.04%. The top losers were JM Financial Services Sector Fund (G) down 1.81%, UTI Banking Sector Fund (G) down 1.27% and Birla Sun Life Buy India Fund (G) down 1.20%.

Among the balanced funds, the top gainer were  Principal Child Benefit Fund - Future Guard Plan up 0.27%, Principal Child Benefit Fund - Career Builder Plan up 0.27% and  ICICI Pru Child Care Plan - Gift Plan  up 0.20%.  The top losers were Escorts Balanced Fund (G) down 1.15%, Reliance Regular Savings Fund - Balanced Option  down 1.06% and  LIC MF Balanced Fund - C (G) down 0.91%.

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