Weak session for MF NAVs as markets slip

It was one more bad session for equity diversified NAVs, which ended lower with negative advance:decline ratio of 7:199 as the markets remained under bears control through the day following weak cues from Asian and US markets. It has started showing smart recovery since the middle of session as major European markets trading in the green barring DAX and strong buying in oil and gas space but closed on a weaker note for second straight day triggered by power, capital goods, technology, telecom and banking stocks. The Sensex closed at 15,962.56, down 100.62 points or 0.63% after hitting an intraday high of 15,985.40 and low of 15,709.51. The Nifty touched a high/low of 4739.30 and 4634 before ending the day at 4715.90, down 23.7 points or 0.5%.

All sectoral funds closed sharply lower. Balanced and tax saving funds also following weak trend.

Long term debt funds finished with negative returns; advance:decline ratio of 27:38.

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

Among the equity diversified funds, the top gainer were JM HI FI Fund (G) up 0.99%,  ABN AMRO Dividend Yield Fund (G) up 0.43% and Escorts High Yield Equity Plan (G) up 0.42%.  The top losers Sundaram BNP Paribas Capex Opportunities Fund (G) down 1.70%. LIC MF India Vision Fund (G) down 1.64% and Kotak Midcap Fund (G) down 1.62%.

Among the tax saving funds, the top losers  were  Kotak Tax Saver (G) down 1.54%, Sahara Tax Gain (G) down 1.22% and Birla Sun Life Tax Relief 96 (G) down 1.15%.

Among the sector funds, the only gainer was SBI Magnum Pharma Fund (G) up 0.12%.The top  losers were UTI Energy Fund (G)  down 1.47%, UTI Services Industries Fund (G) down 1.35% and Birla Sun Life Buy India Fund (G) down 1.34%.

Among the balanced funds, the only gainer was Reliance Regular Savings Fund - Balanced Option up 0.47%. The top losers were LIC MF Balanced Fund - C (G) down 1.59%, LIC MF Unit Linked Insurance Scheme down 1.19% and JM Balanced Fund (G)  down 0.95%.

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