Mutual Funds advance as market ends higher
Equity and Debt Mutual Funds delivered stable performance in yesterday‘s session led by positive market rally.
The performance of Equity Mutual Funds bounced back yesterday after ending in negative zone in the previous session. Funds in the Large cap category delivered a better performance than Small & Mid cap in the broader market space. Thematic – Infrastructure funds lost the most registering very few declines while Index funds were the star performer among Equity categories.
Funds in the defensive sectors like Pharma & Healthcare & FMCG and Banking & Finance were in line with the markets performance. However, Technology funds succumb under selling pressure and hence were seen in red.
Hybrid funds too delivered stable performance with majority of funds ending in green.
Experts have been bullish on the market saying the index will test new highs in the current year. the 30-share BSE Sensex was up 51.10 to 19,742.52 and 50-share NSE Nifty closed at 6,001.70 up 13.30 points.
Among Fixed Income funds, both Long term and Short term funds continued with its upward journey led by sharp rally in the debt market.
Here is the day's performance and the gainers and losers across categories.
Equity funds: Top gainers
* IDFC Classic Equity Fund - Plan A (G) up 0.63%
* IDFC Classic Equity Fund - Plan B (G) up 0.63%
* Sundaram Rural India Fund (G) up 0.60%
Equity funds: Top losers
* Sundaram Capex Opportunities Fund (G) down 0.77%
* Templeton India Equity Income Fund (G) down 0.53%
* JM Core 11 Fund (G) down 0.49%.
Tax saving funds: Top gainers
* IDFC Tax Advantage (ELSS) Fund (G) up 0.57%
* IDFC Tax Saver (ELSS) Fund (G) up 0.36%
* Tata Tax Advantage Fund - 1 (G) up 0.34%.
Tax saving funds: Top losers
* Reliance Equity Linked Saving Fund - Series I (G) down 0.64%
* Reliance Tax Saver (ELSS) Fund (G) down 0.44%
* Escorts Tax Plan (G) down 0.41%.
Sector funds: Top gainers
* Sundaram Media & Entertainment Opportunities - Retail (G) up 1.54%
* ICICI Prudential FMCG Fund (G) up 0.82%
* UTI Pharma & Healthcare Fund (G) up 0.77%
Sector funds: Top losers
* Birla Sun Life New Millennium (G) down 0.38%
* Franklin Infotech Fund (G) down 0.34%
* Reliance Banking Fund (G) down 0.2%.
Balanced funds: Top gainers
* Tata Balanced Fund (G) up 0.29%
* Edelweiss Absolute Return Fund (G) up 0.24%
* ICICI Prudential Balanced Fund (G) up 0.21%.
Balanced funds: Top losers
* JM Balanced Fund (G) down 0.22%
* HDFC Prudence Fund (G) down 0.17%
* Escorts Balanced Fund (G) down 0.13%.
Debt funds: Top gainers
* ICICI Prudential Income Plan - Institutional Plan (G) up 0.12%
* ICICI Prudential Gilt - Investment Plan - PF Option (G) up 0.26%.
Debt funds: Top losers
* LIC NOMURA MF Govt. Sec. Fund (G) down 0.01%.