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Equity Mutual Funds plunge as markets slip on on China woes

Equity Mutual Funds decline as the Equity benchmarks as well as broader markets shed more than a percent on Tuesday, tracking sharp fall in Chinese markets and further decline in crude oil prices.

December 10, 2014 / 10:13 AM IST

Equity Mutual Funds decline as the Equity benchmarks as well as broader markets shed more than a percent on Tuesday, tracking sharp fall in Chinese markets and further decline in crude oil prices. More profit booking by investors also triggered sell-off in the market. Performance wise, all the funds in the equity category could withhold market pressure amid volatile condition and closed in red. The sector funds performance were also in line with markets breadth.


The 30-share BSE Sensex closed below the psychological 28000-level, down 322.39 points to 27797.01, continuing for the third consecutive session today and hitting a one month low. The 50-share NSE Nifty slipped way below the 8400-mark (support level, say experts), down 97.55 points to 8340.70. Meanwhile, the BSE Midcap and Smallcap indices shed 1.6 percent each on profit booking.


Experts feel the current fall may be extended by upto 5-6 percent but one should buy on every dip as they are bullish on market.


Among fixed income funds, debt funds delivered stable performance. NS Venkatesh, IDBI Bank said, the bonds continue to trade in a narrow range. Markets are expected to remain cautious ahead of the CPI and IIP data which is due on Friday. However since there is no auction this week the markets are expected to get some support and trade between 7.88-7.91 percent.


Check out all mutual fund gainers & losers

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


Equity diversified: Top gainers


*  No Gainers


Equity diversified: Top losers


*  Mirae Asset Global Commodity Stock Fund - Regular Plan (G) down 3.18%
*  Sundaram Media & Entertainment Opportunities - Retail (G) down 2.44%
*  JM Multi Strategy Fund (G) down 2.37%


Tax saving funds: Top gainers


*  No Gainers


Tax saving funds: Top losers


*  JM Tax Gain Fund (G) down 2.31%
*  SBI TAX Advantage Fund - Series III - Regular Plan (G) down 1.96%
*  Taurus Tax Shield (G) down 1.84%


Sector funds: Top gainers


*  No Gainers


Sector funds: Top losers


*  Sundaram PSU Opportunities Fund (G) down 2.23%
*  Reliance Diversified Power Sector Fund - Retail Plan (G) down 1.94%
*  JM Basic Fund (G) down 1.93%


Balanced funds: Top gainers


*  No Gainers


Balanced funds: Top losers


*  HDFC Prudence Fund (G) up 1.43%
*  DSP BlackRock Balanced Fund (G) up 1.19%
*  Reliance Regular Savings Fund - Balanced Option (G) up 1.18%


Debt funds: Top gainers


*  Religare Invesco Gilt Fund - Long Duration Plan (G) up 0.43%
*  UTI Gilt Advantage Fund - Long Term Plan (G) up 0.43%
*  UTI Gilt Advantage Fund - LTP- PF (G) up 0.43%


Debt funds: Top losers


*  JPMorgan India Equity Savings Fund - Regular Plan (G) down 0.34%
*  Birla Sun Life Equity Savings Fund - Regular Plan (G) down 0.30%
*  SBI EDGE Fund (G) down 0.06%


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