MF NAVs bounce back on strong markets cues

Equity diversified NAVs bounced back along with cash markets and recovered earlier losses to some extent with positive advance:decline ratio of 211:1. It was a smart pullback rally for the markets on the back of buying in realty, banking, technology, power, FMCG and metal stocks. Midcap and small cap stocks remained in the limelight. The Sensex has closed at 15,395.82, up 206.20 points or 1.36% but lost 157 points from day's high. The Nifty was up 55.4 points or 1.23% to settle at 4572.50 but lost 45 points from day's high.

On the sectoral front, banking, FMCG, pharma and technology funds advanced while auto funds ended mixed. BSE Bankex, IT, FMCG and Healthcare indices were up 2.83%, 1.78%, 1.42% and 0.63%, respectively. Auto Index was down 0.14%.

Balanced, tax saving, long term and short term debt funds finished with positive returns.

• Equity diversified NAVs bounce back along with cash markets
• Banking, FMCG, pharma and technology funds advance
• Auto funds end mixed
• Balanced, tax saving, long term and short term debt funds finish with positive returns

Among the equity diversified funds, the top gainer were Franklin Asian Equity Fund (G) up 1.88%,  Taurus Star Share up 1.82% and Taurus INFRA-TIPS (G) up 1.67%.  The only loser was Lotus India Mid N Small Cap Fund (G) down 0.11%.

Among the tax saving funds, the top gainers were Sahara Tax Gain (G) up 1.79%, HDFC Tax Saver (G) up 1.46% and  Birla Equity Plan (G) up 1.41%. The only loser was JM Equity Tax Saver Fund - Series I (G) down 0.27%.

Among the sector funds, the only gainer were UTI Banking Sector Fund (G) up 2.20%, SBI Magnum Pharma Fund (G) up 2.12% and  UTI Services Industries Fund (G) up 1.82%. The top losers were JM Auto Sector Fund (G)  down 0.02%.

Among the balanced funds, the top gainer were  Kotak Dynamic Asset Allocation (G) up 2.31%, JM Balanced Fund (G) up 1.424% and  Tata Balanced Fund (G)  up 1.08%. 

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