MF NAVs advance sharply as markets rally

Equity diversified NAVs rallied with strong advance:decline ratio of 211 as the markets ended the session on a strong note. The Sensex has hit an intraday high of 17,366.19 and low of 17,079.94 before closing the day at 17,353.54, up 2.21% or 375.19 points. The Nifty surged by 2.07% or 103.5 points to settle at 5115.25 and hit high/low of 5118.55 and 4999.60, respectively.

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

Long term debt funds finished mixed with negative bias; advance:decline ratio of 32:39.

• Equity diversified NAVs rally
• Auto, banking, pharma and technology funds advance
• FMCG funds decline
• Balanced and tax saving funds close higher
• Long term debt funds finish mixed with negative bias

Among the equity diversified funds, the top gainer were Lotus India AGILE Fund (G) up 2.74%,  Baroda Global Fund (G) up 2.55% and Tata Growth Fund (G) up 2.55%. 

Among the tax saving funds, the top losers were  Lotus India AGILE Tax Fund (G) up 2.39%, Birla Sun Life Tax Relief 96 (G) up  1.98% and OptiMix Retireinvest Fund - Series I (G) up 1.87%.

Among the sector funds, the top gainer JM Telecom Sector Fund (G) up 2.98%, SBI Magnum Pharma Fund (G) up 2.90% and JM Financial Services Sector Fund (G) up 2.36%. The top losers were SBI Magnum FMCG Fund down 0.30%,  Franklin FMCG Fund (G) down 0.25% and ICICI Pru FMCG Fund (G) down 0.06%.

Among the balanced funds, the top gainers were JM Balanced Fund (G) up 2.17%, BOB Balance Fund (G) up 1.86% and Kotak Dynamic Asset Allocation (G) up 1.83%

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