NAVs slips as market ends in a negative terrain

Equity funds couldn’t sustain its two days of gaining streak and finally succumb under market pressure. All the equity funds and Balanced funds were seen in red with only few gainers in either category. Large cap funds category was the one of the biggest losers followed by Equity Diversified, and ELSS. Though some advances were seen in Small and Mid cap category.

Among sector funds, Banking & Finance and Technology were seen losing the most with no gainers registered. Pharma & Healthcare funds closed with positive returns while FMCG funds ended mixed.

The market experts expect market to be sideways in March because of election results and escalating crude prices and hence see no reason for a runaway. In the previous trading session, the BSE benchmark fell 168.71 points or 0.95%, to close at 17583.97 while the NSE benchmark was down 45.45 points or 0.84% to 5,339.75

In the debt space, funds in long term category were seen declining led by high oil prices. The advance: decline ratio recorded for Gilt Long term and Long term debt was 6: 42 and 11: 61 respectively. Meanwhile Ultra Short Term Debt and Gilt Short Term advanced with the ratio of 51: 12 and 11: 5 while Short term funds declined with ratio recorded 15: 53. The experts are of the view that the tight liquidity in the market, scaling oil prices and investors apathy may impact sentiments further.

Check out all mutual fund gainers & losers

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

 Equity funds: Top gainers

*  SBI Magnum Emerging Businesses Fund (G) up 0.34%

*  Birla Sun Life MNC Fund (G) up 0.15%

*  UTI MNC Fund (G) up 0.14%

Equity funds: Top losers

*  JM Core 11 Fund (G) down 1.92%

*  SBI Infrastructure Fund - Series I (G) down 1.36% 

*  Sundaram Select Thematic Energy Opportunities Funds (G) down 1.31%

Tax saving funds: Top gainers

*  Reliance Equity Linked Saving Fund - Series I (G) up 0.01%

Tax saving funds: Top losers

*  Sundaram Tax Saver (OE) (G) down 1.22%

*  Escorts Tax Plan (G) down 1.09%

*  L&T Tax Advantage Fund - Series I (G) down 1.07%

Sector funds: Top gainers

*  Reliance Media & Entertainment Fund (G) up 1.07%

*  SBI Magnum Pharma Fund (G) up 0.35%

*  UTI Pharma & Healthcare Fund (G) up 0.03%

Sector funds: Top losers

*  Religare Banking Fund - Regular Plan (G) down 1.26%

*  UTI Banking Sector Fund (G) down 1.25%

*  Sahara Banking and Financial Services Fund (G) down 1.20%

Balanced funds: Top gainers

*  No Gainers

Balanced funds: Top losers

*  Escorts Balanced Fund (G) down 0.86%

*  UTI Balanced Fund (G) down 0.85%

*  Sundaram Balanced Fund - Regular Plan (G) down 0.80%

Debt funds: Top gainers

*  JP Morgan India Active Bond Fund - Retail Plan (G) up 0.04%

*  Religare Gilt Fund - Long Duration Plan - Retail Plan (G) up 0.03%

Debt funds: Top losers

*  Escorts Income Plan (G) down 0.01%

*  Principal Government Securities Fund (G) down 0.02%