Disappointing session for MF NAVs as mkts plunge

It was completely disappointing session for the equity diversified NAVs, which ended lower with negative advance:decline ratio of 211 as markets ended sharply lower. Banking, capital goods, realty, power, auto, oil & gas and metal stocks rotten the markets very badly. The Sensex has hit an intraday high of 17,104.59 and low of 16,863.38, before finishing the day at 16,907.11 down 1.95% or 336.05 points. The Nifty lost 92.2 points or 1.8% to settle at 5025.45 after touched high/low of 5118.90 and 5010.70, respectively. All BSE indices ended in the red.

All sectoral funds declined. BSE Bankex, Auto, FMCG, IT and Healthcare indices fell 3.06%, 2.05%, 1.74%, 0.79% and 0.41%, respectively.

Balanced and tax saving funds funds also finished lower; adv:dec ratio stood at 1:33 and 0:37, respectively.

Long term debt funds ended with negative returns while short term debt funds with positive returns; advance:decline ratio of 32:43 and 55:26.

• Completely disappointing session for equity diversified NAVs
• All sectoral funds decline
• Balanced and tax saving funds funds finish lower
• Long term debt funds end with negative returns
• Short term debt funds end with positive returns

Among the equity diversified funds, the top losers were JM Emerging Leaders Fund (G) down 2.39%. ABN AMRO Sustainable Development Fund (G) down 2.35% and LIC MF India Vision Fund (G) down 2.32%.

Among the tax saving funds, the top losers were  JM Tax Gain Fund (G) up 2.45%, LIC MF Tax Plan (G) up  2.42% and Kotak Tax Saver (G) up 1.75%.  

Among the sector funds, the top gainer were Reliance Pharma Fund (G) up 1.54%, SBI Magnum Pharma Fund (G) up 1.51% and Sundaram BNP Paribas Select Thematic Energy up 1.04%. The top losers were UTI Banking Sector Fund (G) down 2.84%, JM Financial Services Sector Fund (G) down 2.58% and JM Basic Fund (G) down 2.40%.

Among the balanced funds, the only gainer was BOB Children Fund - Gift Plan up 0.01%. The top losers were Kotak Dynamic Asset Allocation (G) down 2.60%, LIC MF Balanced Fund - C (G) down 2.14% and Canara Robeco Balance (G) down 1.44%.

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