MF NAVs end on weak note as mkts decline

Equity diversified NAVs ended on weak note with negative advance:decline ratio of 45:164 as it was completely disappointing day for the markets, which lost its positive momentum in late trade and ended at day's low due to oil stocks, which were the main draggers at the end of the day followed by technology, telecom, capital goods and auto stocks. The Sensex touched an intraday high of 17,085.63 and low of 16,697.47 before closing the day at 16,752.86 down 108.64 points or 0.64%. The Nifty ended at 4957.80, down 1.09% or 54.85 points; hit high/low of 5066 and 4943.75.

On the sectoral front, FMCG, pharma and technology funds advanced while auto funds declined. Banking funds ended mixed.

Balanced and tax saving funds closed with negative returns; adv:dec ratio of 5:30 and 5:31, respectively.

Long term debt funds finished mixed with positive bias, advance:decline ratio of 39:35.

• Equity diversified NAVs end on weak note
• FMCG, pharma and technology funds advance
• Auto funds decline
• Banking funds end mixed
• Balanced and tax saving funds close with negative returns
• Long term debt funds finish mixed with positive bias

Among the equity diversified funds, the top gainer were Franklin Asian Equity Fund (G) up 0.91%,  HSBC Emerging Markets Fund (G) up 0.90% and Birla Sun Life International Equity Fund - Plan A (G) up 0.61%.  The top losers were ABN Amro Equity Fund (G)  down 1.28%, Lotus India AGILE Fund (G) down 1.18% and ICICI Pru Growth Plan (G) down 1.14%.

Among the tax saving funds, the top losers were  Lotus India Tax Plan (G) up 0.58%, JM Equity Tax Saver Fund - Series I (G) up  0.25% and Principal Tax Savings Fund  up 0.14%. The top losers were Lotus India AGILE Tax Fund (G) down 1.04%,  ABN AMRO Tax Advantage Plan (ELSS) (G) down 0.95% and Canara Robeco Equity Tax Saver  down 0.78%.

Among the sector funds, the top gainer SBI Magnum Pharma Fund (G) up 1.39%, SBI Magnum FMCG Fund up 1.22% and ICICI Pru FMCG Fund (G) up 1.17%. The top losers were Sundaram BNP Paribas Select Thematic Energy Opportunities Funds (G) down 1.45%,  UTI Energy Fund (G) down 0.82% and JM Telecom Sector Fund (G) down 0.78%.

Among the balanced funds, the top gainers were JM Balanced Fund (G) up 0.13%, Birla Balance (G)  up 0.06% and UTI Mahila Unit Scheme (G) up 0.06% The top losers were  Kotak Dynamic Asset Allocation (G) down 1.30%, DSP-ML Balanced Fund (G)  down 0.51% and Canara Robeco Balance (G) down 0.50%.

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