MF NAVs decline sharply as mkts butchered

Equity diversified NAVs ended on a weak note with negative advance:decline ratio 3:212 as markets have completely washed out all indices in an intraday trade. Weak global cues on the back of rising crude have worrisome effect on our markets as well. Realty, metal, banking, power, telecom, auto and capital goods stocks slaughtered severely. The Sensex was down 570.51 points or 4.18% at 13,094.11. Nifty Fifty finished at 3925.75, down 167.6 points or 4.09%.

Among the equity diversified funds, the top gainers were Escorts High Yield Equity Plan (G) up 0.64%, Escorts Growth Plan (G) up 0.47% and  Sundaram BNP Paribas Financial Services Opportunities - Retail Plan (G) up 0.01%. The top losers were Franklin India Opportunities Fund (G) down  4.76%,  JM HI FI Fund (G) down 4.74% and SBI Infrastructure Fund - Series I (G)  down  4.71%.

Among the tax saving funds, the top losers were Birla Sun Life Tax Relief 96 (G) down  4.71%, LIC MF Tax Plan (G) down  4.65% and  Franklin India Tax Shield (G)  down 4.24%.

Among the sector funds, the top losers were JM Telecom Sector Fund (G) down 4.87%, UTI Services Industries Fund (G) down 3.89% and UTI Energy Fund (G) down 3.59%.

Among the balanced funds, the only gainer was  Escorts Balanced Fund (G)  up 0.31%. The top losers were  Kotak Dynamic Asset Allocation (G) down  5.30%,  Canara Robeco Balance (G) down 3.20% and  FT India Balanced Fund (G) down 2.97%.

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