MF NAVs end lower as mkts decline

Equity diversified NAVs ended lower with negative advance:decline ratio of 6:215 as markets closed on a weak note for fourth consecutive day on fears that RBI may hike repo rate and CRR by 50 bps each and Inflation may cross 12% mark, which will be announced on Thursday. Rate sensitives like realty, auto and banking stocks took huge beating on the bourses. Others big losers were metal, select oil and power stocks. Sensex closed at 12,575.80, down 100.39 points or 0.79%. Nifty ended with a loss of 44.4 points or 1.15% at 3816.70.

On the sectoral front, auto, banking, FMCG and technology funds advanced while pharma funds advanced slightly. BSE Auto, Bankex and IT indices lost 2.38%, 1.96% and 0.63%. However, Healthcare Index jumped by 1.59%.

Balanced, tax saving, short term debt funds and long term debt funds finished with positive returns.

• Equity diversified NAVs end lower
• Auto, banking, FMCG and technology funds advance
• Pharma funds advance slightly
• Balanced, tax saving, short term debt funds and long term debt funds finish with positive returns

Among the equity diversified funds, the top gainers were Escorts High Yield Equity Plan (G) up 1.82%, Escorts Infrastructure Fund (G) up 0.69% and BOB Growth Fund (G) up 0.51%.  The top losers were JM Emerging Leaders Fund (G)  down  2.46%,  JM HI FI Fund (G)  down 2.27% and HSBC Midcap Equity Fund (G)  down  2.27%. 

Among the tax saving funds, the only gainer was  Escorts Tax Plan (G)  up 1.18%.  The top losers were  ING Tax Saving Fund (G)  down  2.20%,  DWS Tax Saving Fund (G)  down  1.95% and  JM Tax Gain Fund (G) down 1.82%

Among the sector funds, the top gainers were  JM Healthcare Sector Fund (G)  up 0.18%,  Reliance Pharma Fund (G)  up 0.27% and UTI Pharma & Healthcare Fund (G)  up 0.37%. The top losers were  Reliance Media & Entertainment Fund (G)  down 2.15%,  JM Auto Sector Fund (G)  down 1.92% and  JM Financial Services Sector Fund (G) down  1.88%.

Among the balanced funds, the top gainers were  Escorts Balanced Fund (G)  up 1.24%, Escorts Opportunities Fund (G) up 1.17% and  Escorts Balanced Fund (G) up 1.24%.  The top losers  were ICICI Pru Child Care Plan - Gift Plan  down 1.24%,  ICICI Pru Balanced Fund (G)  down 1.07% and Sundaram BNP Paribas Balanced Fund (G)  down 1.01%.

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