MF NAVs close higher as markets gain

Equity diversified NAVs closed higher with positive advance:decline ratio of 78:123 as the markets have shown smart recovery in the last half an hour of trade amid huge volatility since morning due to rupee depreciation. The Sensex closed at 16,860.90, up 0.74% or 123.83 points and the Nifty finished at 5012.65, up 0.60% or 30.05 points.

On the sectoral front, auto, FMCG and pharma funds declined while technology funds advanced. Banking funds ended mixed.

Balanced and tax saving funds also finished mixed with negative bias, advance:decline ratio of 15:17 and 13:20, respectively.

• Equity diversified NAVs close higher
• Auto, FMCG and pharma funds decline
• Technology funds advance
• Banking funds end mixed
• Balanced and tax saving funds finish mixed with negative bias

Among the equity diversified funds, the top gainer were Lotus India AGILE Fund (G) up 1.60%,  HSBC Emerging Markets Fund (G) up 0.96% and ICICI Pru Growth Plan (G) up 0.84%.  The only loser was Principal PNB Long Term Equity Fund - 3 Year Plan - Series 1 (G) down 1.80%, SBI Magnum Midcap Fund (G) down 1.47% and SBI Magnum Emerging Businesses Fund (G) down 1.30%.

Among the tax saving funds, the top losers were  Lotus India AGILE Tax Fund (G) up 1.52%, HSBC Tax Saver Equity Fund (G) up  0.81% and Canara Robeco Equity Tax Saver up 0.78%. The top losers were JM Equity Tax Saver Fund - Series I (G) down 1.50%,  Principal Tax Savings Fund down 1.03% and Principal Personal Tax Saver Fund  down 0.76%.

Among the sector funds, the top gainer JM Telecom Sector Fund (G) up 0.95%, Birla Sun Life Buy India Fund (G) up 0.67% and Tata Life Sciences & Technology Fund (G) up 0.55%. The top losers were ICICI Pru FMCG Fund (G) down 1.38%,  JM Basic Fund (G) down 1.37% and UTI MNC Fund (G) down 0.67%.

Among the balanced funds, the top gainers were Kotak Dynamic Asset Allocation (G) up 0.81%, Birla Sun Life 95 Fund (G)  up 0.43% and Canara Robeco Balance (G) up 0.43% The top losers were  LIC MF Balanced Fund - C (G) down 0.78%, Principal Child Benefit Fund - Career Builder Plan  down 0.76% and Principal Child Benefit Fund - Future Guard Plan  down 0.75%.

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