Jun 15, 2012, 10.04 AM IST

NAVs plunge on weak domestic and global market outlook

Equity Mutual Funds plunged owing to weak economic outlook. The market trading session ended with BSE losing 202.63 points to close at 16,677.88 while the NSE benchmark slipped 66.70 points or 1.3% to 5,054.75.

Source: Moneycontrol.com
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Equity Mutual Funds plunge owing to weak economic outlook. All Equity and Balanced funds were seen in a negative terrain registering not a single gainer. The rising inflation and weak European market were seen as the prime reasons for registering negative returns.


Even the sectors funds couldn't withhold market pressure and were seen losing. Baring Technology all other categories ended in a red.


The market trading session ended with BSE losing 202.63 points to close at 16,677.88 while the NSE benchmark slipped 66.70 points or 1.3% to 5,054.75.


On the debt front, the Long term debt funds delivered a tumbling performance. The yields of Long term funds fell on Thursday as traders bet the May inflation data would come in much below market expectations and raise the chances for more aggressive rates cuts by the central bank at its policy decision on June 18. In the short term space, Ultra Short Term Debt funds took the lead with no decline while a few were seen in Short term and Gilt Short term categories.


Check out all mutual fund gainers & losers


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


Equity funds: Top gainers


*  No gainers


Equity funds: Top losers


*  Goldman Sachs Infrastructure Exchange Traded Scheme down 2.51%


*  JM Core 11 Fund (G) down 2.47%


*  JM Basic Fund (G) down 2.21%


Tax saving funds: Top gainers


*  No gainers


Tax saving funds: Top losers


*  JM Tax Gain Fund (G) down 1.82%


* Sundaram Tax Saver (OE) (G) down 1.5%


* Tata Infrastructure Tax Saving Fund (G) down 1.47%


Sector funds: Top gainers


*  Franklin Infotech Fund (G) up 0.31%


*  ICICI Prudential Technology Fund (G) up 0.22%


*  DSP BlackRock Technology.Com - Regular Plan (G) up 0.12%


Sector funds: Top losers


*  Taurus Banking & Financial Services Fund (G) down 2.59%


*  Reliance Banking Exchange Traded Fund down 2.53%


*  UTI Banking Sector Fund (G) down 2.39%


Balanced funds: Top gainers


*  No gainers


Balanced funds: Top losers


*  LIC NOMURA Balanced Fund - C (G) down 1.27%


* Sundaram Balanced Fund - Regular Plan (G) down 1.21%


* Baroda Pioneer Balance Fund (G) down 1.12%


Debt funds: Top gainers


*  Baroda Pioneer Income Fund (G) up 0.05%


*  Baroda Pioneer Gilt Fund (G) up 0.17%


Debt funds: Top losers


* IDFC Money Manager Fund - Investment Plan - Institutional Plan B (G) down 0.01%


*  Kotak Gilt Savings Plan (G) down 0.01%


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