Strong recovery in MF NAVs as markets zoom

Equity diversified NAVs have seen good bounce back with positive advance:decline ratio of 193:17 as the markets have rebounded sharply in late trade and ended with strong recovery of half of Wednesdays losses led by buying in technology, telecom, power, FMCG, banking, metal, pharma and some oil and gas stocks. The Sensex closed at 15,769.72, up 1.64% or 254.93 points after hitting an intraday high of 15,814.80 and low of 15,314.02. The Nifty touched a high/low of 4690.60 and 4536.25, before finishing the day at 4676.95, up 1.99% or 91.35 points. BSE Midcap and Small cap indices ended marginally higher.

On the sectoral front, banking, FMCG, pharma and technology funds advanced while auto funds declined. Balanced and tax saving funds also finished higher.

Long term debt funds ended with positive returns though some funds witnessed some sell off; advance:decline ratio stood at 40:28.

• Equity diversified NAVs seen good bounce back
• Banking, FMCG, pharma and technology funds advance
• Auto funds decline
• Balanced and tax saving funds finish higher
• Long term debt funds end with positive returns

Among the equity diversified funds, the top gainer were Reliance Equity Advantage Fund - Retail Plan (G) up 2.31%,  Escorts High Yield Equity Plan (G) up 2.00% and UTI Contra Fund (G) up 1.97%.  The top losers Lotus India Mid Cap Fund (G) down 1.40%. ICICI Pru Fusion Fund (G) down 1.07% and Lotus India Mid N Small Cap Fund (G) down 0.84%.

Among the tax saving funds, the top gainer were Sundaram BNP Paribas Tax Saver (OE) (G) 1.75%, Canara Robeco Equity Tax Saver 1.63% and Escorts Tax Plan (G) 1.55%. The  top losers  were  Lotus India Tax Plan (G) down 0.86% and  JM Tax Gain Fund (G) down 0.02%.

Among the sector funds, the only gainer were Tata Life Sciences & Technology Fund (G) up 1.89%, UTI Services Industries Fund (G)  up 1.72% and  UTI Energy Fund (G) up 1.84%. The top losers were JM Auto Sector Fund (G) down 0.38%. SBI Magnum Pharma Fund (G) down 0.25% and JM Healthcare Sector Fund (G) down 0.16%.

Among the balanced funds, the top gainer were  Kotak Dynamic Asset Allocation (G)  up 2.81%, Canara Robeco Balance (G) up 1.31 % and  Escorts Balanced Fund (G) up 1.25%.  The top losers were BOB Balance Fund (G) down 0.12% and  Birla Sun Life 95 Fund (G) down 0.06%.

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