MF NAVs advance sharply on strong mkt cues

Equity diversified NAVs ended the day on a strong note with positive advance:decline ratio of 204:7 as the markets closed near day's high after a sluggish start. Technolgy stocks bucked the treand with IT major coming positive set of numbers inline with street expectations. The Sensex closed up 346.02 points or 2.19% at 16153.66, and the Nifty up 101.85 points or 2.13% at 4879.65.

All sectoral funds advanced sharply. The BSE Bankex, Auto, FMCG and IT indices rose by 1.3%, 1%, 2% and 5.5%, respectively.

Balanced and tax saving funds also finished with positive returns, adv:dec ratio of 35:1 and 36:1.

• Equity diversified NAVs end the day on a strong note
• All sectoral funds advance sharply
• Balanced and tax saving funds finish with positive returns

Check out the mutual fund gainers & losers

Among the equity diversified funds, the top gainer were Sahara R.E.A.L. Fund - (G) up 3.48%,  JM Contra Fund (G) up 3.01% and Baroda Global Fund (G) up 2.92%.   The top losers were Franklin Asian Equity Fund (G) down 1.43%, Birla Sun Life International Equity Fund - Plan A (G) down 0.94% and ABN AMRO China-India Fund (G) down 0.45%.

Among the tax saving funds, the top gainer were Taurus Libra Tax Shield up 3.17% and ING Tax Saving Fund (G) up  1.96% and DBS Chola Tax Saver Fund (G) up 1.87%. The only loser was Reliance Equity Linked Saving Fund – Series I (G) down 0.11%.

Among the sector funds, the top gainer were JM Telecom Sector Fund (G) up 2.76%, UTI Pharma & Healthcare Fund (G) up 2.37% and JM Healthcare Sector Fund (G) up 2.19%. The top losers were SBI Magnum FMCG Fund down 0.26%, UTI Auto Sector Fund (G) down 0.28% and JM Auto Sector Fund (G) down 0.61%.

Among the balanced funds, the top gainers were Kotak Dynamic Asset Allocation (G) up 3.35%,  JM Balanced Fund (G) up 1.82% and Birla Sun Life 95 Fund (G) up 1.80%.  The only loser was Canara Robeco Balance (G) down 0.11%. 

For more Mutual Fund News click here