MF NAVs decline sharply as markets crash

Equity diversified NAVs closed the day on a weaker note with negative advance:decline ratio of 3:193 as it was a worse session for the markets, which corrected sharply and ended at days low of the first day of week. The Sensex touched an intraday high of 16,632.72 and low of 15,991.21 before closing the day at 16,063.18, down 352.39 points or 2.15%. The Nifty finished at 4739.60, down 130.5 points or 2.68% after hitting high/low of 4908.80 and 4713.

All sectoral funds declined sharply. BSE Bankex, IT, Healthcare and FMCG indices were down by 3.37%, 1.37%, 1.04% and 0.67%, respectively. Balanced and tax saving funds also finished lower.

• Equity diversified NAVs close on a weaker note
• All sectoral funds decline sharply
• Balanced and tax saving funds finish lower

Among the equity diversified funds, the top gainer were HSBC Emerging Markets Fund (G) up 0.42%,  Birla Sun Life International Equity Fund - Plan A (G) up 0.30% and Franklin Asian Equity Fund (G) up 0.20%.  The top losers JM Contra Fund (G) down 3.73%. JM Small & Mid-Cap Fund - Regular Plan (G) down 3.46% and JM Equity Fund (G) down 3.42%.

Among the tax saving funds, the top gainer were  JM Tax Gain Fund (G) down 3.73%, Birla Sun Life Tax Relief 96 (G) down 2.83% and JM Tax Gain Fund (G) down 2.80%.

Among the sector funds, the top losers were JM Auto Sector Fund (G) down 1.54%, UTI Auto Sector Fund (G) down 0.62% and UTI Banking Sector Fund (G) down 3.13%.

Among the balanced funds, the top gainers were BOB Children Fund - Gift Plan up 0.02% and  BOB Children Fund - Study Plan up 0.01%. The top losers were JM Balanced Fund (G) down 3.29%, Escorts Balanced Fund (G) down 2.26% and LIC MF Unit Linked Insurance Scheme down 2.00%.

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