MF NAVs end on weaker note as mkts plunge

Equity diversified NAVs ended on a weaker note with negative advance:decline ratio of 1:211 as the markets completely smashed out for the second straight session due to heavy selling pressure in realty, metal, oil & gas, FMCG, technology and banking stocks. Midcap and small cap stocks also hammered a lot. The Sensex closed the day at 16,649.64, down 1.52% or 257.47 points after hitting an intraday high of 17,054.34 and low of 16,626.11. The Nifty touched a high/low of 5059.05 and 4940.70 before finishing at 4946.55, down 78.9 points or 1.57%.

All sectoral funds finished sharply lower. BSE FMCG, IT, Bankex and Auto indices fell 2.15%, 1.75%, 1.72% and 1.39%, respectively. Balanced and tax saving funds also closed lower.

• Equity diversified NAVs end on a weaker note
• All sectoral funds finish sharply lower
• Balanced and tax saving funds close lower

Among the equity diversified funds, the only gainer was Birla Sun Life International Equity Fund - Plan A (G) up 0.07%. The top losers were Reliance NRI Equity Fund (G) down 2.13%. ABN AMRO Opportunities Fund (G) down 1.94% and ICICI Pru Discovery Fund (G) down 1.91%.

Among the tax saving funds, the top loser were  Lotus India AGILE Tax Fund (G) up 1.88%, Canara Robeco Equity Tax Saver up  1.88% and LIC MF Tax Plan (G) up 1.83%.  

Among the sector funds, the top losers were JM Financial Services Sector Fund (G) down 2.21%, JM Auto Sector Fund (G) down 1.73% and Reliance Pharma Fund (G) down 1.66%.

Among the balanced funds, the top losers were Kotak Dynamic Asset Allocation (G) down 1.81%, Canara Robeco Balance (G) down 1.59% and Escorts Balanced Fund (G) down 1.56%.

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