MF NAVs end on weak note as mkts plunge

Equity diversified NAVs ended first day of week on a weak note with negative advance:decline ratio of 200 as the markets remained under black clouds; Sensex, Nifty and rate sensitive sectors' indices got beaten down severely. Bears have attacked on capital goods, metal, power, realty, auto, and select oil, pharma and banking stocks. Midcap and small cap stocks were real culprits, which worsened markets breadth in today's session. The Sensex closed at 14,293.32, down 277.97 points or 1.91%. The Nifty has ended at 4266.40, down 81.15 points or 1.87%.

All sectoral funds witnessed heavy sell-off. Auto, Bankex, Healthcare and FMCG indices fell 2.95%, 2.56%, 2.43% and 1.41%, respectively.

However, long term and short term debt funds ended with positive returns; advance:decline ratio stood at 47:28 and 73:12, respectively.

• Equity diversified NAVs end on a weak note
• All sectoral funds witness heavy sell-off
• Long term and short term debt funds end with positive returns

Among the equity diversified funds, the only gainer was Sundaram BNP Paribas Financial Services Opportunities - Retail Plan (G) up 0.04%. The top losers were SBI Magnum Emerging Businesses Fund (G) down  4.70%, Canara Robeco Emerging Equities (G) down 4.41% and Taurus Star Share  down 4.35%.

Among the tax saving funds, the top losers were Birla Sun Life Tax Relief 96 (G) down 3.79%, ING Tax Saving Fund (G) down 3.59% and  DBS Chola Tax Saver Fund (G) down 3.45%.

Among the sector funds, the top losers were JM Financial Services Sector Fund (G) down  4.22% and JM Basic Fund (G) down 3.80% and UTI Energy Fund (G) down 3.74%.

Among the balanced funds, the only gainer was BOB Children Fund - Gift Plan up 0.01%. The top losers were  BOB Balance Fund (G) down  2.88%, ICICI Pru Child Care Plan - Gift Plan  down 2.60% and HDFC Prudence Fund (G) down 2.56%.

For more Mutual Fund News click here