NAVs tumble sharply on weak mkts' cues

Equity diversified NAVs tumbled sharply with advance;decline ratio of 5:225, as the benchmark indices retreated on the back of huge selling in rate sensitives, infrastructure, cement, metal and pharma shares.

The 30-share BSE Sensex lost 291.90 points or 1.97%, to settle at 14,493.84 and the 50-share NSE Nifty closed at 4291.10, down 2.27% or 99.85 points from previous close. Among the broader indices, the BSE Midcap Index fell 153.75 points or 2.94%, to 5,076.34 and the Smallcap Index declined 2.51% or 147.82 points, to 5,740.04.

On the sectoral front, banking, pharma, and technology funds declined while FMCG funds ended mixed with positive bias. BSE Bank, Healthcare, IT and FMCG indices were down by 2.45%, 2.03%, 0.55% and 0.56%, respectively.

Long term debt funds ended mixed while short term debt funds declined; their advance:decline ratio stood at 42:32 and 72:11, respectively.

• Equity diversified NAVs tumble sharply
• Banking, pharma, and technology funds decline
• FMCG funds end mixed with positive bias
• Long term debt funds end mixed
• Short term debt funds decline

Check out all mutual fund gainers & losers

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

Equity diversified: Top gainers

• Birla Sun Life Commodity Equities - Global Agri Plan - Retail Plan (G) up 1.39%
• Birla Sun Life Commodity Equities - Global Multi Commodity Plan - RP (G) up 0.26%
• HSBC Emerging Markets Fund (G) up 0.03%

Equity diversified: Top losers

• JM Contra Fund (G) down 4.84%
• JM HI FI Fund (G) down 4.77%
• JM Agri & Infra Fund (G) down 4.53%

Tax saving funds: Top losers

• Bharti AXA Tax Advantage Fund - Eco Plan (G) down 3.93%
• Bharti AXA Tax Advantage Fund - Retail Plan (G) down 3.93%
• JM Tax Gain Fund (G) down 3.79%

Sector funds: Top gainers

• SBI Magnum FMCG Fund up 0.26%
• Franklin FMCG Fund (G)  up 0.18%

Sector funds: Top losers

• Reliance Media & Entertainment Fund (Bonus) down 3.10%
• Reliance Media & Entertainment Fund (G) down 3.10%
• JM Financial Services Sector Fund (G) down 3.03%

Balanced funds: Top losers

• JM Balanced Fund (G) up 2.93%
• Kotak Dynamic Asset Allocation (G) up 2.82%
• Escorts Balanced Fund (G) up 2.71%

For more Mutual Fund News click here