MF NAVs end with negative returns as mkts decline

Equity diversified NAVs closed lower with negative advance:decline ratio of 14:182, as markets ended sharply lower led by sell off in oil, capital goods, technology, auto and power stocks, though they saw V-shape kind of recovery in the second half of session after the free fall in the first half of the session. Recovery was led by short covering as well as some buying in the overbeaten down stocks. The Sensex and Nifty have tested new-2008 lows in today's trade.

The Sensex closed down by 227.63 points or 2.11% at 10,581.49, after seeing recovery of 563.69 points from day's low of 10,017.80. The Nifty has recovered 169.4 points from day's low of 3099.90 and ended with a loss of 69.1 points or 2.07% at 3269.30.

On the sectoral front, auto, FMCG, pharma and technology funds declined while banking funds advanced. BSE IT, Auto and Healthcare indices were down by 3.99%, 3.43% and 0.93%, respectively. However, BSE Bankex jumped 0.43%.

• Equity diversified NAVs close lower
• Auto, FMCG, pharma and technology funds decline
• Banking funds advance

Check out the mutual fund gainers & losers

Among the equity diversified funds, the top gainers were Tata Growing Economies Infrastructure Fund - Plan A (G) up 1.83%, Kotak Lifestyle Fund (G) up 1.10% and Sundaram BNP Paribas Equity Multiplier Fund (G) up 0.72%. The top losers were HSBC Emerging Markets Fund (G) down 9.85%, Mirae Asset Global Commodity Stock Fund - Regular Plan (G) down 7.67% and Franklin Asian Equity Fund (G) down 5.57%.

Among the tax saving funds, the top gainers were  ING Tax Saving Fund (G) up 0.80%, Sundaram BNP Paribas Tax Saver (OE) (G) up 0.46% and Reliance Tax Saver (ELSS) Fund (G) up 0.05%. The top losers were JM Equity Tax Saver Fund - Series I (G) down 2.25%, HDFC Long Term Advantage Fund (G) down 2.19% and BOB ELSS 96 down 2.01%.

Among the sector funds, the top gainers were JM Telecom Sector Fund (G) up 3.40%, UTI Banking Sector Fund (G) up 1.59% and Reliance Banking Fund (G) up 1.45%. The top losers were JM Auto Sector Fund (G) down 3.85%, JM Basic Fund (G) down 2.81% and UTI Energy Fund (G) down 2.41%.

Among the balanced funds, the top gainers were ICICI Pru Equity & Derivatives Fund - Wealth Optimiser (Regular Option) (G) up 4.00%,  ICICI Pru Balanced Fund (G) up 3.73% and LIC MF Balanced Fund - C (G) up 0.32%. The top losers were ICICI Pru Child Care Plan - Gift Plan down 2.44%, Kotak Dynamic Asset Allocation (G) down 1.83% and  HDFC Childrens Gift Fund - Investment Plan down 1.80%.

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