Mutual Funds plunge as markets continue to decline

Equity Mutual Funds closed in red as the Equity benchmarks crashed for the second consecutive session Monday with the Sensex falling nearly 300 points, weighed down by rate sensitives. Performance wise, all the funds in the equity category barring Technology funds closed in negative terrain.

The 30-share BSE benchmark fell 290.66 points or 1.56 percent to close more than four months low at 18307.52, but it recovered 168 points from day’s low 18139.15.  The Nifty was down 93.10 points or 1.69 percent to 5414.75 after hitting an intraday low of 5360.65, weighed down by banks, auto, telecom, FMCG and oil & gas stocks.

Among Fixed income funds, long and short term funds too stumbled. Bond markets are in a fractured state with yields rising sharply over the last 2 days. The weakness in rupee against the dollar impacts the bond market sentiment adversely.

Check out all mutual fund gainers & losers

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

Equity diversified: Top gainers

*  No Gainers

Equity diversified: Top losers

*  JM Core 11 Fund (G) down 3.03%

*  JM Core 11 Fund - Direct Plan (G) down 3.02%

*  UTI Infrastructure Fund (G) down 2.64%

Tax saving funds: Top gainers

*  No gainers

Tax saving funds: Top losers

*  Edelweiss ELSS Fund - Direct Plan (G) down 2.39%

*  Edelweiss ELSS Fund (G) down 2.38%

*  HSBC Tax Saver Equity Fund (G) down 2.25%

Sector funds: Top gainers

*  Franklin Infotech Fund (G) up 0.26%

*  Franklin Infotech Fund - Direct Plan (G) up 0.26%

*  SBI IT Fund (G) up 0.02%

Sector funds: Top losers

*  Baroda Pioneer Banking and Financial Services Fund (G) down 3.34%

*  Baroda Pioneer Banking and Financial Services Fund -Direct Plan B (G) down 3.33%

*  Sundaram Financial Services Opportunities - Direct Plan (G) down 3.23%

Balanced funds: Top gainers

*  No Gainers

Balanced funds: Top losers

*  FT India Balanced Fund (G) down 2.16%

*  FT India Balanced Fund - Direct Plan (G) down 2.16%

*  HDFC Prudence Fund (G) down 1.7%

Debt funds: Top gainers

*  SBI Magnum Income Fund - Floating Rate - Long Term Plan - Direct Plan (G) up 0.10%

*  Taurus Gilt Fund - Direct Plan (G) up 0.70%

Debt funds: Top losers

*  DWS Cash Opportunities Fund - Institutional Plan (G) down 0.01%

*  JM G-Sec Fund (G) down 0.19%

 

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