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Mutual Funds decline as markets slip

Mutual Funds across categories plunged as markets decline sed continued on profit booking.

December 05, 2013 / 10:45 AM IST

Equity Mutual Funds across categories closed in red as the equity benchmarks lost ground further on Wednesday with the Sensex falling nearly 150 points on profit booking. Investors turned cautious as results of all five state elections (Mizoram, Madhya Pradesh, Rajasthan, Chattisgarh and Delhi) will be announced on December 8. None of the funds in the equity domain could withhold market pressure amid volatile condition and closed in red.

Among the sector space except Technology funds, all the other categories ended low amid volatile market.

The Sensex was down 146.21 points to close at 20,708.71, and the Nifty declined 40.90 points to 6,160.95, weighed down by oil & gas, FMCG and auto stocks.

On fixed income funds, Long Term debt and Gilt Long Term funds decline. Mohan Shenoi of Kotak Mahindra Bank feels uncertainty regarding the direction of RBI policy, better-than-expected US data, taper and FOMC meeting is expected to keep the market activity low and yields rangebound. According to him, the range for the new 10-year bond yields is seen between 8.74-8.80 percent.

 Check out all mutual fund gainers & losers

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

Equity diversified: Top gainers

*  Reliance Small Cap Fund (G) up 0.79%
*  SBI Emerging Businesses Fund (G) up 0.35%
*  ICICI Prudential MidCap Fund (G) up 0.20%

Equity diversified: Top losers

*  JM Core 11 Fund (G) down 1.30%
*  HSBC Progressive Themes Fund (G) down 1.18%
*  JM Multi Strategy Fund (G) down 0.97%

Tax saving funds: Top gainers

*  No Gainers

Tax saving funds: Top losers

*  JM Tax Gain Fund (G) down 0.98%
*  Axis Long Term Equity Fund (G) down 0.93%
*  Union KBC Tax Saver Scheme (G) down 0.80%

Sector funds: Top gainers

*  ICICI Prudential Technology Fund (G) up 0.69%
*  UTI Transportation and Logistics Fund (G) up 0.63%
*  Reliance Media & Entertainment Fund (G) up 0.28%

Sector funds: Top losers

*  ICICI Prudential FMCG Fund (G) down 1.10%
*  JM Basic Fund (G) down 0.95%
*  Reliance Banking Fund (G) down 0.89%

Balanced funds: Top gainers

*  SBI Magnum Balanced Fund (G) up 0.13%
*  ICICI Prudential Child Care Plan - Gift Plan up 0.11%

Balanced funds: Top losers

*  JM Balanced Fund (G) down 0.68%
*  FT India Balanced Fund (G) down 0.48%
*  Canara Robeco Balance (G) down 0.48%

Debt funds: Top gainers

*  ICICI Prudential Short Term Gilt Fund (G) down 0.11%
*  DWS Gilt Fund - Regular Plan (G) down 0.09%

Debt funds: Top losers

*  SBI EDGE Fund (G) down 0.24%
*  DSP BlackRock Government Securities Fund (G) down 0.18%

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