Aug 03, 2012, 10.00 AM IST

NAVs end mixed in the absence of any positive cues

Equity funds closed with mixed but positive returns on account of rangebound markets session. On the other hand, debt funds delivered good performance amid fluctuating debt market condition.

Source: Moneycontrol.com

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Equity funds closed with mixed but positive returns on account of rangebound markets session. In the broader indices space, Small & Mid Cap funds were seen gaining while its counterpart Large cap slumped under the selling pressure. Among others, Diversified Equity, ELSS ended mixed while Balanced funds closed with negative returns.

All the sectors were closed with negative bias barring FMCG which was the only category seen gaining.

The lack of positive cues caused the markets to post marginal losses. The session ended with BSE losing 33.02 points to close at 17,224.36 while the NSE declined 12.75 points to 5227.75

In the debt space, both Long term and Short term categories delivered good performance recording very few decline in either category amid uncertain fluctuating debt market condition. According to Dhawal Dalal, DSP BlackRock Invst Managers, the bond prices are expected to remain rangebound in the near-term. While systemic liquidity is likely to improve in August however the heavy supply of bonds may keep market participants cautious.

Check out all mutual fund gainers & losers

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

Equity funds: Top gainers

* Sundaram Capex Opportunities Fund (G) up 0.98%

* IDFC Sterling Equity Fund (G) up 0.88%

* BNP Paribas Mid Cap Fund (G) up 0.80%

Equity funds: Top losers

* Reliance Quant Plus Fund - Retail Plan (G) down 0.45%

* ICICI Prudential Target Returns Fund - Retail Plan (G) down 0.45%

* HDFC Long Term Equity Fund (G) down 0.44%

Tax saving funds: Top gainers

* SBI TAX Advantage Fund - Series II (G) up 0.70%