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Mutual Funds soar high as markets end with hefty gains

Equity Mutual Funds advanced for the fourth consecutive day led by sharp rally in the market.

September 11, 2013 / 10:32 AM IST

Equity Mutual Funds advanced for the fourth consecutive day led by sharp rally in the market. Short covering, banking and rupee measures by new RBI governor Raghuram Rajan and receding Syria concerns pushed the Sensex and Nifty higher by 1762.44 points and 555.3 points in four consecutive sessions. All the funds in the equity domain advanced registering no decline.

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

The Sensex gained 727.04 points or 3.77 percent to close at 19997.10, after hitting an intraday high of 20012.69. The Nifty touched day's high of 5904.85, before ending with gains of 216.35 points or 3.81 percent at 5896.75.

In the fixed income space, all the funds in debt space too ended higher. Ramanathan K, ING Investment Mgmt said, "Bond yields will have a downward bias given the stability in the currency as well as lack of government auction this week. The new governor's stance on growth vs inflation in September 20 policy will be a key factor that would drive the medium tem direction of bond yields.

Equity diversified: Top gainers

*  Religare Invesco AGILE Fund (G) up 4.05%

*  JM Equity Fund (G) up 3.90%

*  IDFC Equity Fund - Plan A (G) up 3.87%

Equity diversified: Top losers

*  No Losers

Tax saving funds: Top gainers

*  JM Tax Gain Fund (G) up 3.96%

*  Religare Invesco AGILE Tax Fund (G) up 3.93%

*  UTI Rajiv Gandhi Equity Saving Scheme (G) up 3.75%

Tax saving funds: Top losers

*  No Losers

Sector funds: Top gainers

*  JM Basic Fund - Direct Plan (G) up 4.21%

ICICI Prudential FMCG Fund (G) up 3.93%

*  SBI FMCG Fund (G) up 3.93%

Sector funds: Top losers

*  No Losers

Balanced funds: Top gainers

*  UTI CCP Advantage Fund (G) up 2.93%

*  JM Balanced Fund (G) up 2.83%

*  LIC NOMURA MF Balanced Fund - C (G) up 2.64%

Balanced funds: Top losers

*  No Losers

Debt funds: Top gainers

*  Birla Sun Life Gilt Plus (Regular Plan) (G) up 1.11%

Debt funds: Top losers

*  Sundaram Flexible Fund - Flexible Income - Regular Plan (G) down 0.16%


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