Mutual Funds surge led by positive market rally

Equity Mutual Funds advanced as the market ended record closing high on Monday. After a short pit-stop, the bulls have resumed their record-breaking sprint on Dalal Street. Equity funds across categories including sector space excelled registering few decline.

The Nifty managed to close above 8150-level, up 87.05 points or 1.08 percent at 8173.90 while the Sensex was up 293.15 points or 1.08 percent at 27319.85.

Analysts feel the bulls are here to stay for long. Gautam Shah of JM Financials dishes out aggressive targets for the Nifty. He expects the 50-share index to hit 10700 by December 2015 while Jim Walker of Asianomics says the bull run in India will go on till 2018.

In the fixed income space, all the funds in debt space too advanced registering with no declines. Ashutosh Raina, HDFC Bank said "The expectations of increase in FII limits in Indian bonds have ensured bonds trade in a narrow range. The 10-year bond is expected to trade in 8.40-8.70 percent range," he further added.

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 2.33%*  DSP BlackRock Micro Cap Fund - Regular Plan (G) up 2.25%*  ICICI Prudential Value Fund - Series 4 - Regular Plan (G) up 2.10%

Equity diversified: Top losers

*  Birla Sun Life Commodity Equities - Global Agri Plan - Retail Plan (G) down 0.31%*  Birla Sun Life International Equity Fund - Plan A (G) down 0.12%*  Tata Growing Economies Infrastructure Fund - Plan A (G) down 0.02%

Tax saving funds: Top gainers

*  SBI TAX Advantage Fund - Series I (G) up 1.64%*  L&T Tax Advantage Fund (G) up 1.55%*  Reliance Tax Saver (ELSS) Fund (G) up 1.46%

Tax saving funds: Top losers

*  No Losers

Sector funds: Top gainers

*  UTI Transportation and Logistics Fund (G) up 2.26%*  Reliance Pharma Fund (G) up 1.63%*  Sundaram Financial Services Opportunities - Retail Plan (G) up 1.50%

Sector funds: Top losers

*  Losers

Balanced funds: Top gainers

*  UTI CCP Advantage Fund (G) up 1.27%*  Escorts Opportunities Fund (G) up 1.12%*  HDFC Prudence Fund (G) up 1.05%

Balanced funds: Top losers

*  No Losers

Debt funds: Top gainers

*  SBI EDGE Fund (G) up 0.44%*  IDBI Gilt Fund (G) up 0.29%*  ICICI Prudential Long Term Gilt Fund (G) up 0.27%

Debt funds: Top losers

*  No Losers

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