NAVs end flat led by volatile market

Equity Mutual Funds ended with mixed returns owing to volatile market condition. In the broader market space, Large cap category delivered a better performance than Small & Mid cap category. Large cap funds managed to end in positive terrain with the advance: decline ratio of 49: 29. Meanwhile Small & Mid cap funds succumb under market pressure recording a negative ratio of  9: 36. Among others, Diversified Equity and ELSS ended mixed but negative returns while Thematic - Infrastructure and Balanced were seen in a green zone.

On sectoral space, Banking & Finance category gained the most recording no decline led by RBI's hints of possible rate cut. The defensive sectors like Pharma & Healthcare and FMCG delivered poor performance. Technology funds were also seen declining witnessing very few gainers.

The markets were trading negative for major part of the day. However the positive news of monsoon likely to hit southern Kerala helped markets to recover some of its losses. The trading session ended with Sensex closing at 15988.40 up 23.24 points or 0.15% and the Nifty at 4848.15 up 6.55 points or 0.14%.

On the Debt front, both Short term and Long term categories were seen gaining recording no decline in the debt space. Sandeep Bagla of ICICI Securities Primary Dealership is of the opinion that the announcement of the new 10-year bond auction can act as a booster for delivering good returns.

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

Equity funds: Top gainers

*  Fidelity India Special Situations Fund (G) up 0.92%
*  Birla Sun Life India Reforms Fund (G) up 0.75%
*  HDFC Infrastructure Fund (G) up 0.74%

Equity funds: Top losers
*  HDFC Infrastructure Fund (G) up 0.74%
*  UTI Mid Cap Fund (G) down 1.07%.
*  Reliance Diversified Power Sector Fund - Retail Plan (G) down 0.75%

Tax saving funds: Top gainers

*  UTI Long Term Advantage Fund (G) up 0.38%
* IDFC Tax Advantage (ELSS) Fund (G) up 0.38% 
* HSBC Tax Saver Equity Fund (G) up 0.35%.

Tax saving funds: Top losers

*  Edelweiss ELSS Fund (G) down 0.51%
*  SBI TAX Advantage Fund - Series II (G) down 0.43%
*  ICICI Prudential R.I.G.H.T. Fund (G) down 0.4%

Sector funds: Top gainers

* UTI Banking Sector Fund (G) up 1.11%
* Reliance Banking Exchange Traded Fund up 0.98%
* Sundaram Financial Services Opportunities - Retail Plan (G) up 0.83%.

Sector funds: Top losers

*  ICICI Prudential FMCG Fund (G) down 1.28%
*  Reliance Media & Entertainment Fund (G) down 0.92%
*  Sahara R.E.A.L. Fund (G) down 0.79%.

Balanced funds: Top gainers

* Sundaram Balanced Fund - Regular Plan (G) up 0.41%
* Baroda Pioneer Balance Fund (G) up 0.39%
* HDFC Prudence Fund (G) up 0.26%

Balanced funds: Top losers

*  JM Balanced Fund (G) down 0.39%
*  Edelweiss Absolute Return Fund (G) down 0.34%
*  DSP BlackRock Balanced Fund (G) down 0.13%

Debt funds: Top gainers

*  DSP BlackRock Balanced Fund (G) down 0.13%.
*  Templeton India Govt Sec - Provident Fund (G) up 0.43%.

Debt funds: Top losers

*  No losers