Equity and Debt Mutual Funds surge on Wednesday as the equity benchmarks continued record breaking spree with the Sensex closing above the 28000-mark for the first time on the back of buying in rate sensitives - banking & financials and autos stocks.
Equity Mutual Funds across domain advanced as markets ended higher.
Equity funds ended mixed ahead of credit RBI’s credit policy review.The BSE benchmark went up 12.72 points, to close at 16,751.73 while the NSE benchmark fell just 2.35 points to 5,046.25.
Equity funds managed to register positive returns amid volatile surrounding. The market was seen in pressure due to weak Asian cues and tracking a series of downgrades in Europe by rating agency S&P. The Sensex rose 34.74 points, to close at 16,189.36 and the Nifty went up 7.9 points to 4,873.90.
Equity funds delivered dismal performance ahead of mid-quarter review of monetary policy by RBI. Funds in equity category ended in red while Debt funds advanced.
Equity diversified NAVs ended lower with advance:decline ratio of 5:247 as the Indian equity benchmarks retreated quite sharply in the late trade on Friday, with falling over 1% on profit booking.