MF NAVs close with negative returns

Equity diversified NAVs ended on weak note with negative advance:decline ratio of 26:185 as markets witnessed profit booking. Huge profit booking seen in realty, banking, pharma and oil stocks barring some metal, auto and technology stocks. The Sensex touched an intraday high of 17,367.13 and low of 17,136.26 before closing the day at 17,230.18, down 1.17% or 204.76. The Nifty fell 52.75 points or 1.02% to settle at 5104.95; touched a high/low of 5160.05 and 5072.40, respectively.

On the sectoral front, banking, FMCG, pharma and technology funds declined while auto funds advanced. Balanced and tax saving funds also finished with negative returns; advance:decline ratio of 4:32 and 4:33, respectively.

• Equity diversified NAVs end on weak note
• Banking, FMCG, pharma and technology funds decline
• Auto funds advance
• Balanced and tax saving funds finish with negative returns

Among the equity diversified funds, the top gainer were Lotus India Mid Cap Fund (G) up 1.18%,  Lotus India Mid N Small Cap Fund (G) up 0.88% and Standard Chartered Premier Equity Fund (G) up 0.82%.  The top losers were LIC MF Opportunities Fund (G) down 1.50%. Taurus Star Share down 1.44% and Sahara Growth Fund (G) down 1.31%.

Among the tax saving funds, the top gainer were  Birla Equity Plan (G) up 0.31%, Lotus India AGILE Tax Fund (G)  up  0.22% and Tata Tax Advantage Fund - 1 (G) up 0.04%. The top losers were ING Tax Saving Fund (G) down 1.05%, JM Tax Gain Fund (G) down 1.04% and HDFC Tax Saver (G) down 0.95%.

Among the sector funds, the top gainer were ICICI Pru FMCG Fund (G)  up 1.80%, Reliance Media & Entertainment Fund (G) up 0.36% and JM Auto Sector Fund (G) up 0.14%. The top losers were UTI Banking Sector Fund (G) down 1.84%, JM Telecom Sector Fund (G) down 1.47% and JM Financial Services Sector Fund (G) down 1.27%.

Among the balanced funds, the top gainers were Principal Child Benefit Fund - Future Guard Plan up 0.42%, Principal Child Benefit Fund - Career Builder Plan up 0.42% and BOB Children Fund - Gift Plan up 0.02%. The top losers were Kotak Dynamic Asset Allocation (G) down 1.26%, Sundaram BNP Paribas Balanced Fund (G) down 0.92% and Canara Robeco Balance (G) down 0.88%.

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