MF NAVs decline sharply as markets plunge

Equity diversified NAVs ended lower with negative advance:decline ratio of 7:192 as the markets have closed on a weak note. The Sensex was down 72.91 points or 0.45% at 16275.59, and the Nifty was down 15.25 points or 0.31% at 4859.80.

On the sectoral front, banking and FMCG funds declined while pharma and technology funds advanced. Auto funds ended mixed. Balanced and tax saving funds also finished lower; advance:decline ratio of 2:29 and 0:36, respectively.

Long term debt funds closed mixed with negative bias; adv:dec ratio stood at 31:35. 

• Equity diversified NAVs end lower
• Banking and FMCG funds decline
• Pharma and technology funds advance
• Auto funds end mixed
• Balanced and tax saving funds finish lower
• Long term debt funds close mixed with negative bias

Among the equity diversified funds, the top gainer were Franklin Asian Equity Fund (G) up 1.32%,  Templeton India Equity Income Fund (G) up 0.42% and Birla Sun Life International Equity Fund - Plan A (G) up 0.12%.  The top losers Taurus Discovery Fund down 2.00%. JM Contra Fund (G) down 1.82% and JM Agri & Infra Fund (G) down 1.81%.

Among the tax saving funds, the top losers were  JM Equity Tax Saver Fund - Series I (G) up 1.85%, Birla Equity Plan (G) up 1.38% and Birla Sun Life Tax Relief 96 (G) up 1.31%.  

Among the sector funds, the top gainers were JM Telecom Sector Fund (G) up 0.73%, UTI Pharma & Healthcare Fund (G) up 0.21% and UTI Auto Sector Fund (G) up 0.20%. The top losers were UTI Banking Sector Fund (G) down 2.18%, JM Financial Services Sector Fund (G) down 2.14% and Reliance Banking Fund (G) down 2.10%.

Among the balanced funds, the top gainers were LIC MF Balanced Fund - C (G) up 0.20%, BOB Children Fund - Study Plan up 0.01%.  The top losers were JM Balanced Fund (G) down 3.57%, ICICI Pru Child Care Plan - Gift Plan  down 2.40% and Escorts Balanced Fund (G) down 2.30%.

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