MF NAVs close lower as mkts decline

Equity diversified NAVs closed lower with negative advance:decline ratio of 23:191 as markets ended on a weaker note due to selling pressure in oil refinery, technology, telecom, private banking, realty, FMCG, select power and auto stocks. Sharp cut in European and Asian markets due to renewed financial crisis also added to negative sentiments. News of withdrawal of support by Left parties to UPA government has not played any key role in markets in today's trade. Sensex ended with a loss of 176.34 points or 1.3% at 13,349.65 and Nifty closed at 3988.55, down 41.45 points or 1.03%.

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

Long term debt funds ended mixed with positive bias; advance:decline ratio stood at 41:36.

• Equity diversified NAVs close lower
• Auto, FMCG, pharma and technology funds decline
• Banking funds advance
• Long term debt funds end mixed with positive bias

Among the equity diversified funds, the top gainers were Taurus Discovery Fund  up 0.73%,  ABN AMRO Dividend Yield Fund (G) up 0.52% and  ABN Amro Future Leaders Fund (G)  up 0.52%. The top losers were Lotus India AGILE Fund (G)  down  2.09%,  Lotus India Mid Cap Fund (G)  down 1.77% and ABN AMRO China-India Fund (G) down  1.56%.

Among the tax saving funds, the top gainers were JM Equity Tax Saver Fund - Series I (G)  up 0.45%, Taurus Libra Tax Shield (G)  up 0.13% and Reliance Equity Linked Saving Fund – Series I (G) up 0.02%.  The  top gainers were Lotus India AGILE Tax Fund (G)  up 1.79%,  IDFC Tax Saver (ELSS) Fund (G)  up 1.77% and  Sundaram BNP Paribas Tax Saver (OE) (G)  up 1.11%. 

Among the sector funds, the top gainers were  UTI MNC Fund (G)  up 0.42%,  Reliance Banking Fund (G) up 0.26% and  JM Financial Services Sector Fund (G) up 0.18%.  The top gainers  were ICICI Pru FMCG Fund (G) down 1.11%, Birla Sun Life Basic Industries Fund (G) down 1.09% and Reliance Media & Entertainment Fund (G)  down 0.95%.

Among the balanced funds, the top gainers were  BOB Balance Fund (G)  up 0.13%, LIC MF Balanced Fund - C (G)  up 0.06% and Escorts Balanced Fund (G)  up 0.04%. The top gainers  were Birla Sun Life Balance (G) down 0.90%, JM Balanced Fund (G) down 0.82% and ICICI Pru Balanced Fund (G) down 0.80%.

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