NAVs advance led by positive market rally

The sector space too excelled registering no losers in any of its category.

The rally seemed to be priced in rate cut hopes and infrastructure targets of Prime Minister ManMohan Singh.  The BSE benchmark rose 194.75 points, to close at 16,649.05 and the NSE benchmark moved up 52.55 points to 5,049.65.

In the debt space, after a shaky performance some breather was seen in Long term space owing to China's rate cut. The advance: decline ratio recoded for Long term funds was 74: 5 while 49: 0 for Gilt Long term. No declines were seen in any Short term category. Dhawal Dalal, DSP BlackRock said that fixed income space will likely to remain firm in the near term after the rate cut in China and lower crude prices.

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 Basic Fund (G) up 1.75%
*  Franklin India High Growth Companies Fund (G) up 1.40%
*  Morgan Stanley Growth Fund (G) up 1.36%

Equity funds: Top losers

*  No Losers

Tax saving funds: Top gainers

* JM Tax Gain Fund (G) up 1.74%
* Quantum Tax Saving Fund (G) up 1.33%
* UTI Long Term Advantage Fund (G) up 1.28%

Tax saving funds: Top losers

*  No Losers

Sector funds: Top gainers

* Reliance Banking Exchange Traded Fund up 2.12%
* Religare Banking Fund - Regular Plan (G) up 1.95%
* ICICI Prudential Banking & Financial Services Fund - Retail Plan (G) up 1.88%.

Sector funds: Top losers

*  No Losers

Balanced funds: Top gainers

* ICICI Prudential Banking & Financial Services Fund - Retail Plan (G) up 1.88%.
* ING Balanced Portfolio (G) up 0.92%
* Birla Sun Life 95 Fund (G) up 0.86%

Balanced funds: Top losers

*  No Losers

Debt funds: Top gainers

*  JP Morgan India Active Bond Fund - Retail Plan (G) up 0.27%
*  Birla Sun Life G-Sec. Fund - Long Term (G) up 0.28%.

Debt funds: Top losers

* DWS Premier Bond Fund - Regular Plan (G) down 0.05%