Mutual Funds soar high as markets end with hefty gains

Equity Mutual Funds advanced as the equity benchmarks end at all-time closing high on Thursday led banks, oil & gas, capital goods and metals stocks. The rupee too has seen strong appreciation of 57 paise intraday due to steep fall in current account deficit (CAD) in the quarter ended December 2013. All the funds in the equity domain advanced registering no decline.

On the sector funds, barring Pharma & Healthcare funds all the other categories were in line with markets positive sentiment.

The 30-share BSE Sensex closed at 21513.87, up 237.01 points or 1.11 percent after hitting an intraday high of 21525.14 while the 50-share NSE Nifty climbed 72.50 points or 1.15 percent to 6401.15.

Experts believe the market is gearing up for sharp upmove before general elections, hitting 6500-6800 on the Nifty can’t be ruled out in short term. An improvement in CAD, positive global cues, increasing retail participation and consistent support from foreign institutional investors (FIIs) too fueled the part rally today, they feel.

In the fixed income space, all the funds in debt space too ended higher. Dhawal Dalal of DSP Blackrock feels the government bond prices are likely to consolidate at current levels and trend higher in the near term as selling pressure eases and sentiment improves in the global market. He expects the benchmark 10-year yield to trade between 8.75-8.85 percent in the near-term.

*  Escorts Infrastructure Fund (G) up 2.50%*  HSBC Progressive Themes Fund (G) up 2.42%*  Baroda Pioneer Infrastructure Fund (G) up 2.21%

*  No Losers

*  Tata Infrastructure Tax Saving Fund (G) up 1.91%*  Quantum Tax Saving Fund (G) up 1.67%*  HSBC Tax Saver Equity Fund (G) up 1.65%

*  No Losers

*  Reliance Diversified Power Sector Fund - Retail Plan (G) up 2.51%*  UTI Energy Fund (G) up 2.20%*  Baroda Pioneer PSU Equity Fund (G) up 2.07%

*  Reliance Pharma Fund (G) down 0.44%*  UTI Pharma & Healthcare Fund (G) down 0.25%*  SBI Pharma Fund (G) down 0.12%

*  ICICI Prudential Child Care Plan - Gift Plan up 1.40%*  DSP BlackRock Balanced Fund (G) up 1.31%*  Escorts Balanced Fund (G) up 1.23%

*  No Losers

*  DWS Gilt Fund - Regular Plan (G) up 0.36%*  ICICI Prudential Gilt - Treasury Plan - PF Option (G) up 0.33%*  Birla Sun Life Gilt Plus (Regular Plan) (G) up 0.33%

*  No Losers

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