MF NAVs decline sharply as markets crash

Equity diversified NAVs have remained under selling pressure following weak markets, which closed sharply lower on global turmoil. Advance:decline ratio was completely in favour of advances, 0:202. The Nifty ended at a new yearly closing low of 4,500.95, down 126.85. It hit a high and low of 4,626.45 and 4,411.60, respectively. The Sensex, which was down around 700 points at one stage, recovered to close down 506 points at 15,066, after hitting an intra-day high of 15,202.74.

On the sectoral front, auto, banking, FMCG and technology funds declined. BSE Auto, Bankex, FMCG and IT indices lost 2.45%, 3.21%, 2.06% and 4.2%, respectively. However, pharma funds ended mixed with positive bias. BSE Healthcare Index gained 0.53%.

Long term debt funds finished mixed with positive bias, advance:decline ratio stood at 40:36.

• Equity diversified NAVs end lower
• Auto, banking, FMCG and technology funds decline
• Pharma funds end mixed with positive bias
• Long term debt funds finish mixed with positive bias

Among the equity diversified funds, the top losers DBS Chola Midcap Fund (G) down 4.12%. DBS Chola Opportunities Fund (G) down 4.08% and DBS Chola Growth Fund (G) down 4.06%.

Among the tax saving funds, the top losers  were  JM Equity Tax Saver Fund - Series I (G) down 3.37%,  Kotak Tax Saver (G) down 3.32%. and Birla Sun Life Tax Relief 96 (G) down 3.29%.

Among the sector funds, the only gainer were JM Healthcare Sector Fund (G) up 0.22%, UTI Pharma & Healthcare Fund (G) up 0.38% and  JM Healthcare Sector Fund (G) up 0.48%. The top losers were Reliance Media & Entertainment Fund (G) down 3.46%, JM Basic Fund (G) down 3.45% and UTI Banking Sector Fund (G) down 3.25%.

Among the balanced funds, the top gainer were  BOB Children Fund - Gift Plan up 0.01% and  BOB Children Fund - Study Plan up 0.01%. The top losers were Kotak Dynamic Asset Allocation (G) down 3.66%, JM Balanced Fund (G)  down 3.09% and  Birla Sun Life 95 Fund (G down 2.49%.

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