Sharp cut sees in MF NAVs as mkts plunge

Equity diversified NAVs ended the session on a weaker note on Monday with negative advance:decline ratio of 3:201 as it was a sharp cut across the sectors, barring select stocks, on the back of rising crude oil price, political uncertainty and institutional selling. Rate sensitive sectors like realty, banking and auto have butchered very badly. Other culprits were cement, power, capital goods and oil. The Sensex has hit an intraday low 13,405.54, before closing the day at 13,461.60, down 340.62 points or 2.47%. The Nifty fell 96.1 points or 2.32% at 4021.70 after touching a low of 4021.70.

All sectoral funds finished weak. Balanced and tax saving funds also closed with negative returns.

However, long term and short term debt funds advanced sharply.

• Equity diversified NAVs end session on a weaker note
• All sectoral funds finish weak
• Balanced and tax saving funds close with negative returns
• Long term and short term debt funds advance sharply

Among the equity diversified funds, the top gainers were Franklin Asian Equity Fund (G) up 0.25%,  Sundaram BNP Paribas Financial Services Opportunities - Retail Plan (G) up 0.12% and Birla Sun Life International Equity Fund - Plan A (G) up 0.10%.  The top losers were JM Emerging Leaders Fund (G)  down  5.11%, JM HI FI Fund (G) down 5.07% and Reliance NRI Equity Fund (G) down  4.94%.

Among the tax saving funds, the top losers were JM Tax Gain Fund (G)  down  4.02%, DBS Chola Tax Saver Fund (G)  down 3.41% and  JM Equity Tax Saver Fund - Series I (G)  down 3.37%.

Among the sector funds, the only gainer was  UTI Pharma & Healthcare Fund (G)  up 0.22%. The  top losers were JM Basic Fund (G)  down  4.16% and JM Telecom Sector Fund (G) down 3.85% and Reliance Media & Entertainment Fund (G) down 3.40%.

Among the balanced funds, the top gainers were BOB Children Fund - Gift Plan  up 0.02%, and  BOB Children Fund - Study Plan  up 0.01%. The top losers were  LIC MF Balanced Fund - C (G)  down  2.20%,  LIC MF Unit Linked Insurance Scheme  down 2.17% and JM Balanced Fund (G)  down 2.05%.

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