Equity NAVs decline as market slips
Equity Mutual Funds plunge on the last day of the week along with the fall of market. Meanwhile debt funds delivered good performance with no decline.
April 27, 2013 / 12:57 IST
Equity Mutual Funds plunge on the last day of the week along with the fall of market. Market experts attributed the weakness to profit booking, as the market had risen around 6 percent over the last fortnight. Succumb under the market pressure none of the equity category could register gains. The sectoral funds also closed in red with no gainers.
However, in spite of ending in negative territory, mutual funds are expected to stay firm as equity market appears to have priced in much of the good news.
The market session closed with Sensex at 19286.72 down 120 points and the Nifty at 5871.45 down 45 points. Funds in the fixed income domain delivered rather good performance after falling in last session led by profit booking in the debt market. The debt funds are likely to perform well in the near term on the hopes of rate cut by RBI in its upcoming monetary policy reviewCheck out all mutual fund gainers & losersHere is the day’s performance and the gainers and losers across categories. Equity funds: Top gainers* BNP Paribas Mid Cap Fund (G) up 0.61%* Goldman Sachs Infrastructure Exchange Traded Scheme up 0.58%* BNP Paribas Equity Fund (G) up 0.49%Equity funds: Top losers* Sahara Wealth Plus Fund - Fixed Pricing Option (G) down 0.00%* Reliance Infrastructure Fund - Retail Plan (G) down 1.38%* HSBC Midcap Equity Fund (G) down 1.36%Tax saving funds: Top gainers* BNP Paribas Tax Advantage Plan (ELSS) (G) up 0.56%* SBI TAX Advantage Fund - Series I (G) up 0.35%* ICICI Prudential R.I.G.H.T. Fund (G) up 0.34%Tax saving funds: Top losers* IDFC Tax Advantage (ELSS) Fund (G) down 1.36%* ING Tax Saving Fund (G) down 1.01%* Religare AGILE Tax Fund (G) down 0.97%Sector funds: Top gainers* UTI Transportation and Logistics Fund (G) up 0.54%* Reliance Natural Resources Fund (G) up 0.09%Sector funds: Top losers* UTI Banking Sector Fund (G) down 1.64%* R* Shares Banking Exchange Traded Fund down 1.53%* Baroda Pioneer Banking and Financial Services Fund (G) down 1.52%Balanced funds: Top gainers* JM Balanced Fund (G) up 0.11%* ICICI Prudential Equity-Volatility Advantage Fund (G) up 0.06%Balanced funds: Top losers* Edelweiss Absolute Return Fund (G) down 0.63%* LIC NOMURA MF Balanced Fund - C (G) down 0.60%* Principal Retail Equity Saving Fund (G) down 0.59%Debt funds: Top gainers* Tata Dynamic Bond Fund - Plan B (G) up 0.14%* Edelweiss Gilt Fund (G) up 0.20%Debt funds: Top losers* DWS Premier Bond Fund - Regular Plan (G) down 0.01% Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
