Mutual Funds soar high as markets end higher

Equity Mutual Funds advanced on Wednesday as the market staged sharp short covering-led rally. Smart gains in technology, financials, oil & gas and telecom helped the market recover half of previous day’s losses. All the funds in the equity domain advanced registering no decline.

In the sector space, barring FMCG all other sector categories advanced with no decline.

The Sensex rose 332.89 points or 1.83 percent to close at 18567.55, and the Nifty gained 106.65 points or 2 percent at 5448.10.

Experts believe overall the market has been moving in a tight range amid concerns like growth slowdown, weak currency and downgrades

In the fixed income space, all the funds in debt space soar high as government bond yields dropped for a fourth session in five on Wednesday as a recovery in the rupee from close to record lows and the swearing-in of a new central bank governor raised hopes for some market-friendly measures.

Equity diversified: Top gainers

*  Religare Invesco AGILE Fund (G) up 2.45%

*  Franklin India High Growth Companies Fund (G) up 2.31%

*  Franklin India Flexi Cap Fund (G) up 2.30%

Equity diversified: Top losers

*  No Losers

Tax saving funds: Top gainers

*  Religare Invesco AGILE Tax Fund (G) up 2.35%

*  ING Tax Saving Fund (G) up 2.11%

*  Franklin India Tax Shield (G) up 2.03%

Tax saving funds: Top losers

*  No Losers

Sector funds: Top gainers

*  SBI Pharma Fund (G) up 2.54%

       *  Reliance Pharma Fund (G) up 2.18%

*  UTI Pharma & Healthcare Fund (G) up 2.01%

Sector funds: Top losers

*  SBI FMCG Fund (G) down 0.02%

Balanced funds: Top gainers

*  FT India Balanced Fund (G) up 1.72%

*  Sundaram Balanced Fund - Regular Plan (G) up 1.68%

Balanced funds: Top losers

*  No Losers

Debt funds: Top gainers

*  L&T Gilt Fund (G) up 0.01%

*  SBI Magnum Gilt - Long Term Plan (G) up 0.96%

Debt funds: Top losers

*  No Losers

For moreMutual Fund Newsclick here