Aug 08, 2012, 09.56 AM IST

NAVs advance as markets end higher

All the funds in Equity, Balanced, and Debt categories delivered good performance on account of positive market rally.

Source: Moneycontrol.com

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Equity Funds delivered good performance for the second consecutive day as markets closed with positive bias. The traders on Tuesday continued to add long positions ahead of monsoon parliament session.

All the funds in Equity and Balanced categories were seen gaining with few decline registered in either category.

Among sectoral space, Banking & Finance and FMCG were the leading category with no decline. Technology funds were also seen gaining. Meanwhile defensive sector Pharma & Healthcare slumped on account of selling pressure.

The market's rally was also on account of stability in global peers. Traders have opted to buy risky assets on hopes for some action on reforms by the government. The 30-share BSE Sensex rose 188.82 points or 1.08% to close at 17,601.78 while 50-share NSE Nifty went up 54.15 points to 5,336.70.

The debt funds maintained positive performance as both Long and Short term categories closed in a green zone. According to market experts the expectations of weak IIP data will support bond yields which will act as a positive trigger for the debt funds.

Check out all mutual fund gainers & losers

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

Equity funds: Top gainers

* JM Core 11 Fund (G) up 1.63%

* Templeton India Equity Income Fund (G) up 1.49%

* JM Basic Fund (G) up 1.35%

Equity funds: Top losers

* ICICI Prudential Dynamic Plan (G) down 0.85%

* ICICI Prudential Top 100 Fund (G) down 0.45%

* LIC NOMURA Infrastructure Fund Series 1 (G) down 0.88%

Tax saving funds: Top gainers

* SBI TAX Advantage Fund - Series II (G) up 1.47%