Apr 04, 2012, 10.12 AM IST

NAVs surge led by uptick in the market

Equity funds advanced as markets continued with its positive rally. The BSE benchmark rose 119.27 points or 0.68%, to close at 17,597.42. Meanwhile, the NSE benchmark was up 40.60 points at 5,358.50.

Source: Moneycontrol.com

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Equity funds advanced as markets continued with its positive rally. The Large cap and Small & Mid cap indices were up by over 1% each. Large cap category funds registered positive returns with just few declines. All other Equity and Balanced funds ended in a positive terrain with no losses seen in either category.

In the sectoral space, Pharma & Healthcare funds slumped while all other followed the uptrend and witnessed surge in returns.

The hopes of RBIs rate cut and FII buying led the market to end higher. The BSE benchmark rose 119.27 points or 0.68%, to close at 17,597.42. Meanwhile, the NSE benchmark was up 40.60 points at 5,358.50.

On debt funds, yields spiked among Long term, Short term and Ultra Short term debt funds ahead of inauguration of government's borrowing season with the largest ever borrowing in a single week at Rs 18,000 crore. However Gilt Long term and Short term continued to be under pressure due to poor cut-offs in the auction, lack of direction on OMOs and hopes of less than expected rates cut this year.

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 Infrastructure Fund - Series I (G) up 2.43%

* Escorts Leading Sectors Fund (G) up 2.34%

* SBI Magnum Emerging Businesses Fund (G) up 2.04%

Equity funds: Top losers

* Edelweiss Equity Enhancer Fund - Plan C (G) down 0.19%

* Edelweiss Equity Enhancer Fund - Plan B (G) down 0.17%

* Edelweiss Equity Enhancer Fund - Plan A (G) down 0.16%

Tax saving funds: Top gainers

* SBI Magnum Tax Gain Scheme (G) up 1.49%