Bloodbath session for MF NAVs as mkts slaughter

It was a bloodbath session for equity diversified NAVs, which ended sharply lower with negative advance:decline ratio of 0:217 as the markets have completely slaughtered over inflation worries after substantial oil price hike. Heavy selling pressure in European markets on the back of further credit crisis fears also added to negative sentiments. All BSE indices ended in red. Major butchered sectors were realty, metal, power, oil & gas, auto and capital goods stocks. Midcap and small cap stocks also hammered a lot.

The Sensex closed at 15,514.79, down 447.77 points or 2.81% after hitting an intraday low of 15,442.34 and high of 15,992.90. The Nifty has touched a high/low of 4731.50 and 4564.50 before closing the day at 4585.60, lower by 130.3 points or 2.76%.

All sectoral funds declined heavily. BSE Auto, IT, Bankex, Healthcare and FMCG indices slid by 3.31%, 2.54%, 2.53%, 2.19% and 1.5%, respectively. Balanced and tax saving funds also finished lower.

Long term debt funds closed mixed with advance:decline ratio of 36:36.

• Bloodbath session for equity diversified NAVs
• All sectoral funds decline heavily
• Balanced and tax saving funds finish lower
• Long term debt funds close mixed

Among the equity diversified funds, the top gainer were Birla Sun Life International Equity Fund - Plan A (G) up 0.29%,  Franklin Asian Equity Fund (G) up 0.41% and HSBC Emerging Markets Fund (G) up 0.62%.  The top losers Lotus India AGILE Fund (G) down 4.29%. Canara Robeco Infrastructure (G) down 3.88% and SBI Magnum Equity Fund (G) down 3.75%.

Among the tax saving funds, the top losers  were  Lotus India AGILE Tax Fund (G) down 3.98%, Birla Sun Life Tax Relief 96 (G) down 3.37% and Canara Robeco Equity Tax Saver down 3.22%.

Among the sector funds, the only losers were UTI Energy Fund (G) up 2.98%, Sundaram BNP Paribas Select Thematic Energy Opportunities Funds (G) down 2.92%, JM Auto Sector Fund (G) down 2.68%.

Among the balanced funds, the only losers were Kotak Dynamic Asset Allocation (G) down 3.49%, LIC MF Balanced Fund - C (G) down 2.56% and Escorts Balanced Fund (G) down 2.47%.

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