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Mutual Funds decline as markets end lower on profit booking

Mutual Funds closed in red on Thursday as the markets ended the day flat with a negative bias on profit-booking.

November 14, 2014 / 07:51 AM IST

Equity mutual funds across categories decline on Thursday as the markets ended the day flat with a negative bias. The market opened in the green but profit-booking crept in as the day wore on. Banking, oil & gas and real estate stocks lost the most. Technology and pharma stocks were  major gainers. Midcaps fared worse than the bluechips with the index losing nearly 80 points. Performance wise, all the funds in the equity category closed in negative terrain.


Among sectoral funds, Pharma,FMCG and Technology Funds ended with positive returns, whereas Banking Funds succumb under market pressure.


The Sensex ended below 28000, down 68.26 points at 27940.64. The Nifty lost about 25 points after hitting the 8,400 mark for the second day in a row. The 50-share index closed at 8357.85.


Among fixed income funds, debt fund too decline as the benchmark 10-year bond posted its biggest single-day fall in three months on profit-taking after the retail consumer inflation data and the industrial production data were largely in line with market expectations. The benchmark 10-year bond yield closed up 6 bps at 8.22 per cent on Thursday, the largest single-day rise since August 5 this year. On Wednesday, it touched 8.15 per cent, a level last seen on Aug. 8, 2013.


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


*  SBI Emerging Businesses Fund (G) up 0.69%
*  SBI Small & Midcap Fund (G) up 0.58%
*  Escorts Leading Sectors Fund (G) up 0.53%


Equity diversified: Top losers


*  HSBC Progressive Themes Fund (G) down 2.03%
*  JM Core 11 Fund (G) down 1.28%
*  Birla Sun Life India Reforms Fund (G) down 1.16%


Tax saving funds: Top gainers


*  IDBI Equity Advantage Fund - Regular Plan (G) up 0.61%
*  IDFC Tax Advantage (ELSS) Fund - Regular Plan (G) up 0.53%
*  IDFC Tax Saver (ELSS) Fund (G) up 0.30%


Tax saving funds: Top losers


*  Sahara Tax Gain (G) down 1.33%
*  SBI TAX Advantage Fund - Series I (G) down 1.02%
*  JM Tax Gain Fund (G) down 0.95%


Sector funds: Top gainers


*  SBI IT Fund (G) up 1.06%
*  Birla Sun Life New Millennium (G) up 0.96%
*  ICICI Prudential Technology Fund (G) up 0.92%


Sector funds: Top losers


*  Baroda Pioneer PSU Equity Fund (G) down 1.46%
*  Religare Invesco PSU Equity Fund (G) down 1.42%
*  Sundaram PSU Opportunities Fund (G) down 1.37%


Balanced funds: Top gainers


*  Edelweiss Absolute Return Fund (G) up 0.06%


Balanced funds: Top losers


*  HDFC Prudence Fund (G) up 0.51%
*  Canara Robeco Balance (G) up 0.37%
*  Franklin India Balanced Fund (G) up 0.35%


Debt funds: Top gainers


*  DWS Arbitrage Fund - Regular Plan (G) up 0.06%
*  Canara Robeco Treasury Advantage Fund - Regular Plan (G) up 0.03%
*  Taurus Short Term Income Fund (G) up 0.03%


Debt funds: Top losers


*  JPMorgan India Government Securities Fund - Regular Plan (G) down 0.45%
*  IDFC Dynamic Bond Fund - Regular Plan (G) down 0.43%
*  Pramerica Income Fund - Regular Plan (G) down 0.43%


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