Mutual Funds decline as markets slip

Equity Mutual Funds snapped three- day winning streak Tuesday as benchmark indices lost nearly one percent, weighed down by rate sensitives after the banking regulator RBI introduced measures to arrest rupee depreciation. Banking & Finance funds were hit very hard by this RBI’s move. Large cap and Small & Mid cap funds delivered better performance than Index funds. Funds in the defensive space - Pharma & Healthcare and FMCG funds stood strong amid volatile market and emerged as the star performer.

The market session closed with Sensex at 19851.23 down 385 points and Nifty down 75.55 points to finish at 5955.25. On Fixed Income front, funds in long and short term domain closed low caused by weak rupee condition. However, funds are likely to recover as debt market braces for supply in bonds through open market sales by RBI today and primary auctions on Friday. Check out all mutual fund gainers & losers Here is the day’s performance and the gainers and losers across categories. Equity funds: Top gainers *  Birla Sun Life MNC Fund (G) up 0.03% *  Birla Sun Life MNC Fund - Direct Plan (G) up 0.03% Equity funds: Top losers *  JM Core 11 Fund (G) down 3.68% *  JM Core 11 Fund - Direct Plan (G) down 3.68% *  Taurus Infrastructure Fund (G) down 2.43% Tax saving funds: Top gainers *  No Gainers Tax saving funds: Top losers *  JM Tax Gain Fund (G) down 1.99% *  JM Tax Gain Fund - Direct Plan (G) down 1.99% *  Sundaram Tax Saver - Direct Plan (OE) - Direct Plan (G) down 1.78% Sector funds: Top gainers *  SBI FMCG Fund (G) up 1.15% *  SBI FMCG Fund - Direct Plan (G) up 1.15% *  Birla Sun Life New Millennium Fund - Direct Plan (G) up 0.19% Sector funds: Top losers *  Taurus Banking & Financial Services Fund (G) down 4.64% *  Taurus Banking & Financial Services Fund - Direct Plan (G) down 4.55% *  Sundaram Financial Services Opportunities - Retail Plan (G) down 4.43% Balanced funds: Top gainers *  No Gainers Balanced funds: Top losers *  FT India Balanced Fund - Direct Plan (G) down 2.04% *  FT India Balanced Fund (G) down 2.04% *  Principal Balanced Fund (G) down 1.93% Debt funds: Top gainers *  Goldman Sachs Short Term Fund (G) up 0.02% *  Canara Robeco Gilt Advantage Fund (G) up 0.02% Debt funds: Top losers *  LIC NOMURA MF Floating Rate Fund - Direct Plan (G) down 0.05% *  DSP BlackRock Treasury Bill Fund - Direct Plan (G) down 0.6%