NAVs end lower as markets plunge

Equity diversified NAVs ended sharply lower with advance:decline ratio of 3:252 as the Equity benchmarks saw a big carnage on Friday, led by a sell-off across sectors and a pull-out of some money by foreign institutional investors. Inflation worries due to spike up in commodity prices in international markets, domestic issues (scams) and a likely hike in key rates by the Reserve Bank of India (RBI) in its forthcoming policy meet could be some of the reasons behind this carnage along with shorts build up.

  The Sensex was down 492.93 points or 2.44% at 19,691.81, and the Nifty was down 143.65 points or 2.38% at 5,904.60.   All sector fund decline. Long term debt fund ended mixed, However short term debt funds ended with positive returns; their advance:decline ratio stood at 34:47 & 79:24, respectively.

• Equity diversified NAVs end sharply lower
• Sector Funds end with negative bias
• Long term debt fund ended mixed
• short term debt funds end with positive returns

Check out all mutual fund gainers & losers

Here is the day

first published: Jan 7, 2011 11:45 pm

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