MF NAVs recover smartly as mkts gain

Equity diversified NAVs have recovered its earlier losses and ended the day on a positive note with advance:decline ratio of 184:27 as the markets closed higher. Markets ignored higher inflation numbers while reacted positively to the GDP numbers. Relaxation in ECB norms also played some role. The Sensex closed at 16,415.57, up 0.61% or 99.31 points after hitting an intraday high of 16,540.49 and low of 16,314.99. The Nifty has hit a high/low of 4908.85 and 4833.45, respectively, before ending the day at 4870.10, up 0.72% or 34.8 points.

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

Long term debt funds also finished higher though some funds witnessed some selling pressure, advance:decline ratio of 48:28.

• Equity diversified NAVs end on a positive note
• FMCG, pharma and technology funds advance
• Auto funds decline
• Banking funds end mixed
• Long term debt funds finish higher

Among the equity diversified funds, the top gainer were Birla India Opportunities Fund - Plan B (G) up 1.72%,  JM Contra Fund (G) up 1.45% and JM Emerging Leaders Fund (G) up 1.40%.  The top losers Taurus INFRA-TIPS (G) down 1.32%. Taurus Star Share down 1.11% and Taurus Discovery Fund down 0.98%.

Among the tax saving funds, the top gainer were  JM Tax Gain Fund (G) up 1.60%, Tata Tax Saving Fund  up 1.24% and Franklin India Tax Shield (G)  up 1.10%. The top gainer were  ICICI Pru Tax Plan (G) down 0.32%, Birla Equity Plan (G) down 0.08%.  

Among the sector funds, the top gainers were JM Basic Fund (G) up 1.81%, ICICI Pru FMCG Fund (G) up 1.59% and Reliance Pharma Fund (G) up 1.49%. The top losers were UTI Auto Sector Fund (G) down 1.10%, JM Auto Sector Fund (G) down 0.82% and SBI Magnum Pharma Fund (G) down 0.24%.

Among the balanced funds, the top gainers were BOB Balance Fund (G) up 0.98%, FT India Balanced Fund (G) up 0.88% and Escorts Balanced Fund (G) up 0.83%. The top losers were ICICI Pru Child Care Plan - Gift Plan down 0.42%, ICICI Pru Balanced Fund (G) down 0.34% and Birla Sun Life 95 Fund (G) down 0.17%.

For more Mutual Fund News click here