Aug 30, 2012, 10.00 AM IST

Equity NAVs continue to decline led by weak market

Equity Mutual Funds ended in negative territory owing to weak market performance. Meanwhile debt funds delivered good performance taking positive market cues.

Source: Moneycontrol.com

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Equity Mutual Funds ended in negative territory owing to weak market performance. None of the funds in Equity and Balanced category could manage to withhold market pressure and were seen in red.

In the sectoral space, barring defensive segment Pharma & Healthcare and FMCG, none of it witnessed any gainers.

The market selloff continues owing to political instability. The downtrend was despite the constant inflow of foreign money since July 27. The 30-share BSE Sensex lost 140.90 points to 17,490.81 and Nifty fell 46.80 points to close at 5,287.80.

The debt funds maintained its positive performance taking support from weak global equity markets and expectation of a poor GDP number. Among debt funds, Debt Short Term category took the lead with no decline. The other categories as well closed with positive returns registering very few losers.

Check out all mutual fund gainers & losers

Here is the day's performance and the gainers and losers across categories.

Equity funds: Top gainers

* No Gainers

Equity funds: Top losers

* Reliance Infrastructure Fund - Retail Plan (G) down 1.63%

* Escorts Leading Sectors Fund (G) down 1.54%

* JM Core 11 Fund (G) down 1.54%

Tax saving funds: Top gainers

* No Gainers

Tax saving funds: Top losers

* Sundaram Tax Saver (OE) (G) down 1.22%