Mutual Funds continue to soar led by positive market rally
Returns of Equity and Debt Mutual funds continued to surge as respective markets sustained its upward journey.
Returns of Equity Mutual funds continued to surge as markets sustained its upward journey. Funds belonging to benchmark indices and in the broader market space – Large cap and Small & Mid cap emerged as the star performers.
However, according to markets expert the ongoing rally may only be cyclical recovery. BP Singh, ED & CIO - Equity, Pramerica MF reckons that the long-term uncertainties and structural issues continue to exist for the market. In such a scenario, one should focus on valuations and quality while investing, he suggested.Performance wise, the top gainer fund was Taurus Infrastructure Fund which rose to over 1.5% belonged to Thematic – Infrastructure category.The market session ended with Sensex at 20247.33, up 34 points and Nifty closed at 6169.90, up 23.15 points over the previous close.Among fixed income funds, Long term funds delivered better performance than its counterpart Short term funds on the expectation of rate cut by RBI in its upcoming policy review. However, after the sharp rally in the debt market, the long term funds are likely to consolidate at current level. Check out all mutual fund gainers & losersHere is the day’s performance and the gainers and losers across categories. Equity funds: Top gainers* Taurus Infrastructure Fund (G) up 1.54%* Escorts Infrastructure Fund (G) up 1.35%* DSP BlackRock India T.I.G.E.R. Fund - Regular Plan (G) up 1.22%Equity funds: Top losers* Franklin Build India Fund (G) down 0.00%* Sundaram Rural India Fund (G) down 0.72%* Birla Sun Life MNC Fund (G) down 0.48%Tax saving funds: Top gainers* Reliance Tax Saver (ELSS) Fund (G) up 0.83%* Tata Infrastructure Tax Saving Fund (G) up 0.79%* IDFC Tax Advantage (ELSS) Fund (G) up 0.79%Tax saving funds: Top losers* Quantum Tax Saving Fund (G) down 0.02%* SBI TAX Advantage Fund - Series II (G) down 0.01%Sector funds: Top gainers* SBI Pharma Fund (G) up 1.31%* R* Shares Banking Exchange Traded Fund up 1.23%* Reliance Banking Fund (G) up 1.14%Sector funds: Top losers* ICICI Prudential Technology Fund (G) down 1.33%* SBI FMCG Fund (G) down 1.19%* ICICI Prudential FMCG Fund (G) down 1.04%Balanced funds: Top gainers* DSP BlackRock Balanced Fund (G) up 0.62%* HDFC Prudence Fund (G) up 0.60%* Tata Balanced Fund (G) up 0.58%Balanced funds: Top losers* Escorts Balanced Fund (G) down 0.05%Debt funds: Top gainers* BNP Paribas Flexi Debt Fund - Regular Plan A (G) up 0.46%* Birla Sun Life Gilt Plus (PF Plan) (G) up 0.68%Debt funds: Top losers* HSBC Income Fund - Short Term Plan (G) down 0.01% Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
