MF NAVs decline sharply as markets slip

Equity diversified NAVs declined sharply with weak advance:decline ratio of 3:206 as it was a lacklustre day for the markets, volumes were low. Technology, private banks, FMCG and capital goods stocks were biggest culprits, dragged the Sensex and Nifty lower by more than 1%. The Sensex closed at 17,080.65, down by 1.49% or 258.66 points. The Nifty Fifty ended at 5081.70, down 1.05% or 53.8 points.

All sectoral funds declined. The BSE Bankex, IT, FMCG, Auto and Healthcare indices were down 2.9%, 2.69%, 2.6%, 0.42% and 0.40%, respectively.

Long term debt funds also closed with negative returns, advance:decline ratio of 24:48.

• Equity diversified NAVs decline sharply
• All sectoral funds end lower
• Long term debt funds close with negative returns

Among the equity diversified funds, the top gainer were Birla Sun Life International Equity Fund - Plan A (G) up 0.74%,  Tata Growing Economies Infrastructure Fund - Plan A (G) up 0.20% and Standard Chartered Premier Equity Fund (G) up 0.16%.  The only loser was ING L.I.O.N Fund (G)  down 1.70%, Principal Junior Cap Fund (G) down 1.68% and Fidelity India Special Situations Fund (G) down 1.65%.

Among the tax saving funds, the only loser was  Reliance Equity Linked Saving Fund – Series I (G) up 0.17%. The top losers HDFC Tax Saver (G) down 1.44%,  ICICI Pru Tax Plan (G) down 1.34% and JM Tax Gain Fund (G) down 1.33%.

Among the sector funds, the top gainer JM Telecom Sector Fund (G) up 0.71%, UTI MNC Fund (G) up 0.08% and Franklin Pharma Fund (G) up 0.03%. The top losers were JM Financial Services Sector Fund (G) down 2.37%,  UTI Banking Sector Fund (G) down 2.26% and ICICI Pru FMCG Fund (G) down 1.99%.

Among the balanced funds, the top gainers were Reliance Regular Savings Fund - Balanced Option up 1.31%. The top losers were  Kotak Dynamic Asset Allocation (G) down 1.34%, HDFC Balanced Fund (G) down 1.34% and LIC MF Balanced Fund - C (G) down 1.16%.

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