MF NAVs end sharply higher as mkts surge

Equity diversified NAVs ended on a higher note with strong advance:decline ratio as markets rebounded sharply in late trade. It has broken three consecutive days losing streak. Realty, banking, metal, capital goods, technology, telecom, power and oil were top performing sectors, especially realty stocks spurted up smartly. The Sensex closed with a gain of 702.94 points or 5.42% at 13,664.62. Nifty was up 196.6 points or 5.05% to settle at 4093.35.

Among the equity diversified funds, the top gainers were JM HI FI Fund (G) up 7.14%, JM Contra Fund (G) up 7.03% and  SBI Infrastructure Fund - Series I (G) up 5.33%. The top losers were Birla Sun Life International Equity Fund - Plan A (G)  down  1.32%,  Franklin Asian Equity Fund (G) down 0.68% and Escorts High Yield Equity Plan (G) down  0.68%.

Among the tax saving funds, the top gainers were JM Tax Gain Fund (G) up 6.62%, Franklin India Tax Shield (G) up 5.17% and Birla Sun Life Tax Relief 96 (G) up 4.79%.

Among the sector funds, the top gainers were JM Financial Services Sector Fund (G)  up 5.56%, Reliance Banking Fund (G) up 5.36% and UTI Services Industries Fund (G) 5.28%. The only loser was Franklin FMCG Fund (G) down 0.29%.

Among the balanced funds, the top gainers were  FT India Balanced Fund (G)  up 3.56%,  BOB Balance Fund (G) up 3.49% and  Templeton (I) Childrens Asset Plan - Gift Plan (G) up 3.41%. The only loser was Escorts Balanced Fund (G)  down 0.19%.

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