MF NAVs end on strong note as mkts gain

It was a strong closing for equity diversified NAVs with positive advance:decline ratio of 195:22 as the markets closed the session on a strong note and near day's high on the back of huge buying support from metal, technology, telecom, pharma and auto stocks. News from Steel Secretary's desk and rupee depreciation against dollar have played the key role today. The Sensex ended at 16,978.35, up 1.35% or 225.49 points after touching an intraday high/low of 17,014.94 and 16,626.35, respectively. The Nifty went up by 53.95 points or 1.09% to settle at 5011.75. It has hit high/low of 5026.10 and 4932.05.

On the sectoral front, banking, FMCG, technology and pharma funds advanced while auto funds ended mixed. Balanced and tax saving funds also finished higher.

Long term debt funds closed with negative returns while short term debt with positive returns, advance:decline ratio of 23:54 and 59:26, respectively.

• Strong closing for equity diversified NAVs
• Banking, FMCG, technology and pharma funds advance
• Auto funds end mixed
• Balanced and tax saving funds finish higher
• Long term debt funds close with negative returns
• Short term debt end with positive returns

Among the equity diversified funds, the top gainer were DBS Chola Global Advantage Fund (G) up 2.63%,  Lotus India AGILE Fund (G) up 2.13% and Tata Equity P/E Fund (G) up 1.84%.  The top losers were Escorts High Yield Equity Plan (G) down 0.87%, SBI Magnum Emerging Businesses Fund (G) down 0.44% and ING Dividend Yield Fund (G) down 0.35%.

Among the tax saving funds, the top losers were  Lotus India AGILE Tax Fund (G) up 2.10%, JM Tax Gain Fund (G) up  1.59% and Canara Robeco Equity Tax Saver up 1.50%. The top losers were Tata Tax Saving Fund  down 0.10%,  Principal Personal Tax Saver Fund down 0.14% and ICICI Pru Tax Plan (G) down 0.17%.

Among the sector funds, the top gainer JM Telecom Sector Fund (G) up 2.04%, Reliance Pharma Fund (G) up 1.81% and Tata Life Sciences & Technology Fund (G) up 1.49%. The top losers were SBI Magnum FMCG Fund down 0.24%,  JM Auto Sector Fund (G) down 0.06% and JM Financial Services Sector Fund (G) down 0.06%.

Among the balanced funds, the top gainers were Reliance Regular Savings Fund - Balanced Option up 1.49%, Canara Robeco Balance (G) up 1.28% and Kotak Dynamic Asset Allocation (G) up 1.22% The only loser was  Escorts Opportunities Fund (G) down 0.07%.

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