Disappointing day for Mutual Fund NAVs

It was a disappointing day for equity diversified NAVs as markets closed in red but managed to show smart recovery in last half an hour of trade. Advance:decline ratio stood at 9:178. Telecom, technology, auto, capital goods and metal stocks dragged frontline indices lower. However, power, banking and select realty stocks managed to bounce back in late trade. Sensex closed at 14,543.73, down by 101.93 points or 0.70% and Nifty ended with a loss of 24.8 points or 0.56% at 4368.25.

On the sectoral front, auto, banking, FMCG and technology funds declined while pharma funds ended mixed. BSE IT, Auto and FMCG indices were down by 0.87%, 0.86% and 0.70%, respectively. Balanced and tax saving funds also finished lower.

• Disappointing day for equity diversified NAVs
• Auto, banking, FMCG and technology funds decline
• Pharma funds end mixed
• Balanced and tax saving funds finish lower

Check out the mutual fund gainers & losers

Among the equity diversified funds, the top gainers were JM Contra Fund (G) up  0.54%, Sundaram BNP Paribas Entertainment Opportunities - Retail Plan (G) up 0.24% and JM Agri & Infra Fund (G) up 0.23%.  The top losers were HSBC Emerging Markets Fund (G) down 1.73%, Reliance NRI Equity Fund (G) down 1.24% and Taurus Discovery Fund down 1.22%.

Among the tax saving funds, the top gainers were JM Tax Gain Fund (G)  up 0.60%, Taurus Libra Tax Shield (G)  up 0.20% and Reliance Tax Saver (ELSS) Fund (G)  up 0.06%. The top losers were UTI Equity Tax Savings Plan (G) down 1.08%, Reliance Equity Linked Saving Fund - Series I (G) down 0.95% and IDFC Tax Saver (ELSS) Fund (G)  down 0.87%. 

Among the sector funds, the top gainers were UTI Pharma & Healthcare Fund (G) up 0.42%, JM Basic Fund (G) up 0.08% and JM Healthcare Sector Fund (G) up 0.04%. The top losers were JM Telecom Sector Fund (G) down 1.79%, ICICI Pru FMCG Fund (G) down 1.71% and Birla Sun Life Buy India Fund (G) down 0.79%.

Among the balanced funds, the top gainers were JM Balanced Fund (G) up 0.14% and HDFC Prudence Fund (G) up 0.09%. The top losers were ICICI Pru Equity & Derivatives Fund - Wealth Optimiser (Regular Option) (G) down 0.78%,  Escorts Balanced Fund (G) down 0.62% and Templeton (I) Childrens Asset Plan - Gift Plan (G) down 0.61%.

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