NAVs end strong as markets rally

Published on Thu, Jul 22, 2010 at 22:30 | Updated at Fri, Jul 23, 2010 at 10:34 | Source : Moneycontrol.com

Equity diversified NAVs ended strong with advance:decline ratio of 249:6, as the benchmark Nifty closed at a new 30-month high on Thursday, tracking strength in global markets ahead of results of Stress Tests of 91 European banks on July 23. This rally was led by financials followed by metal, telecom, realty, capital goods, healthcare, FMCG and select auto companies' shares. However, Infosys, Kotak Mahindra Bank, Maruti, Reliance Infrastructure, BPCL, ACC, Tata Power, PNB and HCL Tech were the only losers on the Nifty.

The 30-share BSE Sensex closed at 18,113.15, up 135.92 points or 0.76% and the 50-share NSE Nifty rose 42.60 points or 0.79% to settle at 5,441.95.

On the sectoral front, banking and FMCG funds advanced while technology and pharma funds declined.

Even long and short term debt funds also closed with positive returns; their advance:decline ratio stood at 79:4 & 105:3, respectively.

Equity diversified NAVs end strong
Banking and FMCG funds advance
Technology and pharma funds decline
Long and short term debt funds close with positive returns

Check out all mutual fund gainers & losers

Here is the dayâ€™s performance and the gainers and losers across categories.

Equity diversified: Top gainers

SBI Magnum Midcap Fund (G) up 1.69%
Sahara Power & Natural Resources Fund (G) up 1.23%
Religare AGILE Fund (G) up 1.16%

Equity diversified: Top losers

Birla Sun Life Commodity Equities - Global Multi Commodity Plan - RP (G) down 0.69%
Birla Sun Life Commodity Equities - Global Precious Metals Plan -RP (G) down 0.55%
Sundaram BNP Paribas Media & Entertainment Opportunities - Retail (G) down 0.28%

Tax saving funds: Top gainers