MF NAVs close higher as markets gain

Equity diversified NAVs closed higher with strong advance:decline ratio of 211:6 as it was a spectacular session for markets, which ended second straight day on a stronger note. Stunning performance was seen from banking, realty, oil, capital goods, power and FMCG stocks. Sensex closed at 13,635.40, a jump of 523.55 points or 3.99% over previous close. Nifty ended at 4092.25, gain of 145.05 points or 3.67%.

On the sectoral front, auto, banking, FMCG and pharma funds advanced while technology funds declined. BSE Bankex, FMCG, Auto and Healthcare indices were up by 8.05%, 2.79%, 1.84% and 0.37%, respectively. However, IT Index lost 2.57%.

• Equity diversified NAVs close higher
• Auto, banking, FMCG and pharma funds advance
• Technology funds decline

Among the equity diversified funds, the top gainers were LIC Infrastructure Fund Series 1 (G) up 4.58%, LIC MF Opportunities Fund (G)  up 4.29% and SBI Infrastructure Fund - Series I (G)  up 4.16%.  The top losers were Escorts Growth Plan (G) down  1.66%,  Escorts High Yield Equity Plan (G) down 1.30% and Kotak Global Emerging Market Fund (G)  down  1.20%. 

Among the tax saving funds, the top gainers LIC MF Tax Plan (G) up 3.95%, ING Tax Saving Fund (G) up 3.59% and  Franklin India Tax Shield (G) up 3.47%. The only losers were  Escorts Tax Plan (G)  down  0.27%.

Among the sector funds, the top gainers were  UTI Banking Sector Fund (G) up 5.82%,  Reliance Banking Fund (G)  up 5.33% and JM Financial Services Sector Fund (G) up 5.22%.

Among the balanced funds, the top gainers were  Kotak Dynamic Asset Allocation (G)  up 4.53%, ING Balanced Portfolio (G)  up 2.90% and  Sundaram BNP Paribas Balanced Fund (G)  up 2.71%.  The top losers were Escorts Balanced Fund (G)  down 1.03% and  Escorts Opportunities Fund (G) down 0.29%.

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