MF NAVs end sharply higher as mkts surge

Equity diversified NAVs ended sharply higher with advance:decline ratio of 218:3 as markets closed at day’s high after D day verdict as UPA government has won vote of confidence by 19 votes wherein 275 seats were in favour of them and 256 in against of them on July 22, 2008. The Sensex was up 838.08 points or 5.94% at 14942.28, and the Nifty was up 236.70 points or 5.58% at 4476.80.

All sectoral funds advanced. BSE Bankex, Auto, FMCG, Healthcare and IT indices were up 9.99%, 3.86%, 1.13%, 1.26% and 2.35%, respectively.

• Equity diversified NAVs end sharply higher
• All sectoral funds advance

Among the equity diversified funds, the top gainers were ING Midcap Fund (G)  up 7.83%, LIC Infrastructure Fund Series 1 (G) up 7.21% and Lotus India Equity Fund (G)  up 7.20%.  The top losers were Birla Sun Life International Equity Fund - Plan A (G) down  0.68%, Principal Global Opportunities Fund (G) down 0.45% and Escorts High Yield Equity Plan (G) down 0.33%. 

Among the tax saving funds, the top gainers were ING Tax Saving Fund (G)  up 7.96%, LIC MF Tax Plan (G) up 6.78% and  Lotus India Tax Plan (G) up 6.36%.

Among the sector funds, the top gainers were  Lotus India Banking Fund - Retail Plan (G)  up 8.41%,  Reliance Banking Fund (G) up 7.93% and UTI Banking Sector Fund (G) up 7.50%. 

Among the balanced funds, the top gainers were  Kotak Dynamic Asset Allocation (G) up 6.78%, BOB Balance Fund (G)  up 5.05% and  ICICI Pru Balanced Fund (G) up 4.86%.

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