Published on Thu, Sep 20, 2007 at 00:42 | Source : Moneycontrol.com
Updated at Thu, Sep 20, 2007 at 09:50
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Roaring session for MF NAVs as mkts surge higher
It was a roaring session for equity diversified NAVs yesterday, ended with completely positive advance:decline ratio of 184 on the back of phenomenal session in equity markets across the globe giving some blow out moves.
It was a roaring session for equity diversified NAVs yesterday, ended with completely positive advance:decline ratio of 184 on the back of phenomenal session in equity markets across the globe giving some blow out moves. Markets saw an emphatic breakout celebrating the rate cut of 50 bps in the discount rate by the Fed chief Ben Bernanke. The Sensex was up 653.63 points or 4.17% at 16322.75, and the Nifty up 186.15 points or 4.09% at 4732.35.
All sectoral funds advanced higher. The BSE Auto, FMCG, IT, Bankex and Healthcare indices were up 3.5%, 2%, 2.4%, 5% and 1.17%, respectively. Among the sector funds, the top gainers were UTI Banking Sector Fund (G) up 4.49%, JM Telecom Sector Fund (G) up 4.29% and UTI Services Sector Fund (G) up 3.21%.
Balanced and tax saving funds also joined the party.
Equity diversified NAVs end higher
All sectoral funds advance higher
Balanced and tax saving funds close with positive returns
Among the equity diversified funds, the top gainers were UTI Index Select Equity Fund (G) up 4.01%, Standard Chartered Imperial Equity Fund (G) up 3.79% and Sundaram BNP Paribas Select Focus (G) up 3.75%.
Among the tax saving funds, the top gainers were Franklin India Tax Shield (G) up 3.04%, DWS Tax Saving Fund (G) up 3.01% and Standard Chartered Tax Saver (ELSS) Fund (G) up 2.94%.
Among the balanced funds, the top gainers were Kotak Dynamic Asset Allocation (G) up 5.35%, Canbalanced II (G) up 2.73% and SBI Magnum Balanced Fund (G) up 2.60%.