NAVs close sharply lower on weak markets' cues

As the markets continued the sell-off for the second consecutive day, equity diversified NAVs also closed sharply lower with advance:decline ratio of 5:245. The selling was seen in oil & gas exploration, metal, banking, realty, auto and select power stocks. Weak global cues also weighed on the markets.

The 30-share BSE Sensex closed at 16,983.14, down 118.40 points or 0.69% and the 50-share NSE Nifty was down 0.83% or 42.20 points, to settle at 5,066.70.

On the sectoral front, banking, FMCG and pharma funds declined while technology funds ended mixed with negative bias. Healthcare, Bank and FMCG indices were down by 1.18%, 0.61% and 0.01%, respectively. However, IT Index was up just 0.24%.

However, long and short term debt funds advanced; their advance:decline ratio stood at 58:22 and 93:9, respectively.

• Equity diversified NAVs close sharply lower
• Banking, FMCG and pharma funds decline
• Technology funds end mixed with negative bias
• Long and short term debt funds advance

Check out all mutual fund gainers & losers

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

Equity diversified: Top gainers

• Birla Sun Life International Equity Fund - Plan A (G) up 0.79%
• Franklin Asian Equity Fund (G) up 0.66%
• Tata Growing Economies Infrastructure Fund - Plan A (G) up 0.23%

Equity diversified: Top losers

• Birla Sun Life Commodity Equities - Global Precious Metals Plan -RP (G) down 3.63%
• Religare AGILE Fund (G) down 2.05%
• Mirae Asset Global Commodity Stock Fund - Regular Plan (G) down 1.86%

Tax saving funds: Top gainers

• No Gainers

Tax saving funds: Top losers

• Religare AGILE Tax Fund (G) down 1.93%
• IDFC Tax Advantage (ELSS) Fund (G) down 1.37%
• IDFC Tax Saver (ELSS) Fund (G) down 1.31%

Sector funds: Top gainers

• No Gainers

Sector funds: Top losers

• Sundaram BNP Paribas Select Thematic Energy Opportunities Funds (G) down 1.45%
• SBI Magnum Pharma Fund (G) down 1.20%
• Reliance Pharma Fund (G) down 1.19%

Balanced funds: Top gainers

• No Gainers

Balanced funds: Top losers

• Sundaram BNP Paribas Balanced Fund - Regular Plan (G) down 1.10%
• JM Balanced Fund (G) down 0.89%
• Tata Balanced Fund (G) down 0.88%

For more Mutual Fund News click here