Feb 28, 2012, 09.46 AM IST

NAVs slumped with the market crash

Market saw a major downfall in the previous trading session owing to grave market condition. The Benchmark Sensex fell 477.82 points or 2.67%, to close at 17,445.75 while the Nifty lost 148.10 points or 2.73% to 5,281.20, extending from previous week's 2% loss.

Source: Moneycontrol.com

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Market saw a major downfall in the previous trading session owing to grave market condition. The fall was not only restricted to Largecaps but also to broader markets, which tanked more than 3%. All the Equity and Balanced funds tanked recording no gainers in any category.

The fall was overall witnessed across Equity funds categories. The sector funds were also seen in red with no gainers registered.

The experts speculate the upcoming elections and spike in crude prices for being the prime reasons for the market decline. The Benchmark Sensex fell 477.82 points or 2.67%, to close at 17,445.75 while the Nifty lost 148.10 points or 2.73% to 5,281.20, extending from previous week's 2% loss.

While the equity market faced a bad day, it was quite opposite for the Debt market. Both Long term and Short term category funds offering Fixed and Floating interest rate surged with no decline seeb in either category. (Click here to know more on the performance of Debt Funds)

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

* JM Core 11 Fund (G) down 4.46%,

* Escorts Infrastructure Fund (G) down 4.31%

* Escorts Leading Sectors Fund (G) down 3.96%

Tax saving funds: Top gainers

* No Gainers

Tax saving funds: Top losers

* Escorts Tax Plan (G) down 3.51%,