Equity NAVs decline as markets end negative

Equity Mutual Funds across categories decline as Equity benchmarks snapped five-day winning streak on Tuesday with the Sensex losing over 100 points weighed down by profit booking in metals and index heavyweights. All the funds in the equity category closed in negative terrain.

Among the sector space except Technology funds, all the other categories ended low amid volatile market.

The market saw profit booking (cum-consolidation) today after seeing a bit of pre-election rally of nearly 1000 points in last five consecutive sessions to reach psychological 22000-mark on the Sensex.

The Sensex was down 108.41 points to close at 21826.42 while the Nifty fell 25.35 points to 6511.90, which touched an intraday low of 6494.25.

Among fixed income funds, both Long term and Short term funds maintained steady performance. The Government bonds rose to a one-month high on Tuesday as dealers bet consumer inflation would ease further, allowing the central bank to keep interest rates on hold at its policy review next month. K Ramanathan of ING Investment Management feels the bond yields will take direction from consumer price index (CPI) data to be released on Wednesday.

Check out all mutual fund gainers & losers

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

Equity diversified: Top gainers

*  HSBC Progressive Themes Fund (G) up 0.77%
*  SBI Small & Midcap Fund (G) up 0.60%
*  Franklin India Smaller Companies Fund (G) up 0.54%

Equity diversified: Top losers

*  HDFC Infrastructure Fund (G) down 0.88%
*  HSBC Small Cap Fund (G) down 0.80%
*  L&T Indo Asia Fund (G) down 0.79%

Tax saving funds: Top gainers

*  Tata Infrastructure Tax Saving Fund (G) up 0.31%
*  HDFC Long Term Advantage Fund (G) up 0.23%
*  Tata Tax Saving Fund up 0.23%

Tax saving funds: Top losers

*  ICICI Prudential Equity Savings Fund - Series 1 (G) down 1.00%
*  SBI TAX Advantage Fund - Series I (G) down 0.89%
*  ING Tax Saving Fund (G) down 0.65%

Sector funds: Top gainers

*  SBI IT Fund (G) up 1.67%
*  UTI Transportation and Logistics Fund (G) up 0.34%
*  Reliance Diversified Power Sector Fund - Retail Plan (G) up 0.32%

Sector funds: Top losers

*  UTI MNC Fund (G) down 1.00%
*  SBI Pharma Fund (G) down 0.85%
*  Birla Sun Life MNC Fund (G) down 0.73%

Balanced funds: Top gainers

*  Escorts Opportunities Fund (G) up 0.28%
*  JM Balanced Fund (G) up 0.18%
*  L&T Equity and Gold Fund (G) up 0.17%

Balanced funds: Top losers

*  Baroda Pioneer Balance Fund (G) down 0.49%
*  UTI CCP Advantage Fund (G) down 0.47%
*  Reliance Regular Savings Fund - Balanced Option (G) down 0.42%

Debt funds: Top gainers

*  ICICI Prudential Gilt - Investment Plan - PF Option (G) up 0.45%
*  Templeton India Govt Sec - Composite Plan (G) up 0.43%
*  Templeton India Govt Sec - Provident Fund (G) up 0.43%

Debt funds: Top losers

*  No Losers