NAVs advanced amid volatility

Equity funds surged in previous trading session amid volatility. The broader indices Large cap and Small & Mid cap were up by around 1%. Equity funds advanced as it managed to recover losses incurred in Tuesday's trading session. Very few funds posted negative returns.

On the sector space, Banking & Finance and Technology led the market rally. Barring Pharma & Healthcare which ended mixed, all other sectoral funds posted positive returns.

In the volatile trading session market managed to remain on the green zone. The experts are however cautious on the market after exhibiting stunning performance since day one of 2012. The Nifty closed the day at 5,368 gaining 33 points while the Sensex too put on 84 points to shut shop at 17,707.

In the debt space, stumbling performance were witnessed in Debt fund cateogry. Funds in Long term debt slumped with the advance: decline ratio recorded for Long term and Gilt Long term of 31: 40 and 4: 45 respectively. The short term debt funds too ended mixed with the ratio of 57:10, 8:9 for Short term and Gilt short term. No decline was seen for Ultra short term category.

Check out all mutual fund gainers & losers

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

Equity Funds: Top gainers

*  Reliance Infrastructure Fund - Retail Plan (G) up 2.16%
*  HSBC Midcap Equity Fund (G) up 1.83%
*  Birla Sun Life India Opportunities Fund - Plan B (G) up 1.64%

Equity Funds: Top losers

*  Religare Infrastructure Fund (G) down 0.27%
*  BNP Paribas Equity Fund (G) down 0.15%
*  Goldman Sachs Infrastructure Exchange Traded Scheme down 0.06%

Tax saving funds: Top gainers

*  Reliance Tax Saver (ELSS) Fund (G) up 0.98%
*  Reliance Equity Linked Saving Fund - Series I (G) up 0.95%
*  L&T Tax Advantage Fund - Series I (G) up 0.94%

Tax saving funds: Top losers

*  BNP Paribas Tax Advantage Plan (ELSS) (G) down 0.16%

Sector funds: Top gainers

*  ICICI Prudential Technology Fund (G) up 1.54%
*  Sahara Power & Natural Resources Fund (G) up 1.14%
*  IDFC Strategic Sector (50-50) Equity Fund - Plan A (G) up 1.01%

Sector funds: Top losers

*  SBI Magnum Pharma Fund (G) down 0.20%
*  Reliance Media & Entertainment Fund (G) down 0.06%
*  Reliance Banking Exchange Traded Fund down 0.04%

Balanced funds: Top gainers

*  Escorts Balanced Fund (G) up 1.12%
*  Principal Retail Equity Saving Fund (G) up 0.81%
*  LIC NOMURA Balanced Fund - C (G) up 0.79%

Balanced funds: Top losers

*  No Losers

Debt funds: Top gainers

*  JP Morgan India Active Bond Fund - Retail Plan (G) up 0.13% 
*  Birla Sun Life G-Sec. Fund - Short Term Fund - Retail Plan (G) up 0.02%

Debt funds: Top losers

*  SBI Short Horizon Debt Fund - Short Term - Institutional Plan (G) down 0.01% 
*  SBI Magnum Gilt - Short Term Plan (G) down 0.02%