Equity diversified NAVs continued their weakness and ended lower with negative advance:decline ratio of 1:192 as the markets witnessed huge selling pressure in late trade due to big weakness in oil & gas, realty, banking, capital goods and power stocks. Higher inflation numbers and crude prices were the real culprits behind the free fall. Midcap and small cap stocks also hammered. The Sensex closed the day at 16,737.07, down 2.01% or 343.58 points after hitting an intraday high and low of 17,125.95 and 16,678.94. The Nifty has touched high/low of 5087.65 and 4969.40, respectively before ending the day at 4982.60, down 1.95% or 99.1 points.
All sectoral funds declined sharply. The BSE Bankex, Healthcare, IT and Auto indices fell 2.78%, 1.62%, 1.38% and 0.90%, respectively. Balanced and tax saving funds also finished with negative returns.
- Equity diversified NAVs end lower
- All sectoral funds decline sharply
- Balanced and tax saving funds finish with negative returns
Among the equity diversified funds, the top gainer were Birla Sun Life International Equity Fund - Plan A (G) up 0.21%. The top losers were Taurus INFRA-TIPS (G) down 3.13%, JM Contra Fund (G) down 3.12% and Escorts Infrastructure Fund (G) down 3.07%.
Among the tax saving funds, the top losers were JM Tax Gain Fund (G) up 3.54%. ING Tax Saving Fund (G) down 2.61% and Lotus India AGILE Tax Fund (G) down 2.51%
Among the sector funds, the top losers were Reliance Media & Entertainment Fund (G) down 2.96%, JM Financial Services Sector Fund (G) down 2.61% and UTI Banking Sector Fund (G) down 2.58%.
Among the balanced funds, the top losers were Kotak Dynamic Asset Allocation (G) down 2.42%, JM Balanced Fund (G) down 2.13% and ICICI Pru Child Care Plan - Gift Plan down 1.84%.
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