MF NAVs decline sharply for 3rd consecutive day

Equity diversified NAVs declined sharply for third consecutive day with advance:decline ratio of 1:147 as it was another day of capitulation, bears hogged the limelight. Sharp cut seen in realty, banking, metal, power, auto and capital goods stocks. Midcap and small cap stocks crushed very badly. The Sensex closed at 12,961.68, down 499.92 points or 3.71%.  Nifty lost 143.8 points or 3.56% to end at 3896.75.

All sectoral funds ended weak. BSE Bankex, Auto, FMCG, Healthcare and IT indices were down 5.62%, 4.91%, 2.83%, 2.17% and 1.74%, respectively.

• MF NAVs decline sharply for third consecutive day
• All sectoral funds end weak

Among the equity diversified funds, the only gainer was Birla Sun Life International Equity Fund - Plan A (G) up 0.46%. The top losers were JM Small & Mid-Cap Fund - Regular Plan (G) down  7.33%,  JM Emerging Leaders Fund (G)  down 6.52% and JM HI FI Fund (G) down  5.81%.

Among the tax saving funds, the top losers were JM Tax Gain Fund (G) down  5.30%, Birla Sun Life Tax Relief 96 (G) down 4.70% and  ING Tax Saving Fund (G)  down 4.52%.

Among the sector funds, the top losers were JM Telecom Sector Fund (G)  down  5.73% and JM Basic Fund (G) down 5.26% and JM Auto Sector Fund (G) down 4.84%.

Among the balanced funds, the only gainers was BOB Children Fund - Gift Plan  up 0.01%.  The top losers were  JM Balanced Fund (G)  down  3.45%,  Principal Balanced Fund (G)  down 2.89% and SBI Magnum Balanced Fund (G) down 2.79%.

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