Mutual Funds advance led by positive market rally

Equity Mutual Funds surge for the second consecutive day led by markets uptick. The markets gained momentum followed by positive cues from the European market and short covering. These were the critical driving factors for the equity funds to end with positive returns in yesterday’s session.

Performance wise, Small & Mid cap funds outperformed boarder markets funds.

The sector funds performance was also in line with the markets mood that closed with positive bias with no decline.

The market session ended with Sensex gaining 190.11 points at 19054.86 while the Nifty up 49.35 points to be at 5753.75.

In the Fixed Income domain, Gilt Long term funds were seen under pressure due to lack of any OMO (open market operations) announcement in the bond market. Fresh supply of government securities and risk on rally in equity markets will weigh hard on Long term funds. Meanwhile Short term funds continue to remain stable with Ultra Short Term Debt emerging as the star performer.

Check out all mutual fund gainers & losers

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

Equity funds: Top gainers

*  HSBC Small Cap Fund (G) up 2.72%

*  Escorts Infrastructure Fund (G) up 2.40%

*  Sahara Star Value Fund (G) up 2.31%

Equity funds: Top losers

*  No Losers

Tax saving funds: Top gainers

*  JM Tax Gain Fund (G) up 1.61%

*  Escorts Tax Plan (G) up 1.50%

*  Sahara Tax Gain (G) up 1.31%

Tax saving funds: Top losers

*  No Losers

Sector funds: Top gainers

*  SBI Pharma Fund (G) up 2.19%

*  UTI Pharma & Healthcare Fund (G) up 1.86%

*  Sahara R.E.A.L. Fund (G) up 1.73%

Sector funds: Top losers

*  No Losers

Balanced funds: Top gainers

*  Escorts Balanced Fund (G) up 1.32%

*  HDFC Prudence Fund (G) up 1.15%

*  JM Balanced Fund (G) up 1.10%

Balanced funds: Top losers

*  No Losers

Debt funds: Top gainers

*  Templeton Floating Rate Income Fund - Super Institutional Plan (G) up 0.33%

*  Birla Sun Life G-Sec. Fund - Short Term Fund - Retail Plan (G) up 0.68%

Debt funds: Top losers

*  Birla Sun Life Income Plus - Retail (G) (Plan B) down 0.01%

*  Edelweiss Gilt Fund (G) down 0.04%