Equity Mutual Funds soar as markets end higher

Equity Mutual Funds closed higher for the second consecutive day of the week as markets continued with its positive momentum. Al the funds in equity domain including Banking & Finance, which was hovering in red zone, posted gains registering no decline.

Performance wise, BSE Midcap and Smallcap emerged as the star performer.

The market session closed with Sensex closed at 19229.84, while the Nifty rose 86.90 points or 1.55 percent to finish at 5,699.30.

The fixed income funds, however, remained under pressure owing to weak rupee condition. Barring Ultra Short Term Debt, none of the other categories closed with positive returns. Debt funds will continue to be volatile on worries over rupee depreciation despite the recent government measures.

Check out all mutual fund gainers & losers

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

Equity funds: Top gainers

*  JM Core 11 Fund (G) up 2.54%

*  JM Core 11 Fund - Direct Plan (G) up 2.54%

*  HSBC Small Cap Fund (G) up 2.28%

Equity funds: Top losers

*  No Losers

Tax saving funds: Top gainers

*  ICICI Prudential R.I.G.H.T. Fund (G) up 2.05%

*  BOI AXA Tax Advantage Fund - Eco Plan (G) up 1.97%

*  BOI AXA Tax Advantage Fund - Retail Plan (G) up 1.95%

Tax saving funds: Top losers

*  No Losers

Sector funds: Top gainers

*  R* Shares Banking Exchange Traded Fund up 2.75%

*  Baroda Pioneer Banking and Financial Services Fund (G) up 2.68%

*  Baroda Pioneer Banking and Financial Services Fund -Direct Plan B (G) up 2.66%

Sector funds: Top losers

*  No Losers

Balanced funds: Top gainers

*  Tata Balanced Fund - Direct Plan (G) up 1.33%

*  Tata Balanced Fund (G) up 1.32%

*  DSP BlackRock Balanced Fund - Direct Plan (G) up 1.20%

Balanced funds: Top losers

*  No Losers

Debt funds: Top gainers

*  Indiabulls Ultra Short Term Fund (G) up 0.03%

*  Kotak Gilt Savings Plan (G) up 0.19%

Debt funds: Top losers

*  Kotak Flexi Debt - Regular Plan (G) down 0.01%

*  JM G-Sec Fund (G) down 0.12%