MF NAVs Surge Higher As Markets End On Strong Note

Equity diversified NAVs surged higher as markets ended the day on strong note. The Sensex was up 345.65 points or 2.47% at 14355.55, and the Nifty up 99.10 points or 2.45% at 4146.2. All equity diversified and balanced funds finished with positive returns. All sectoral funds advanced sharply. The BSE Auto, Bankex, FMCG, Healthcare and IT indices gained 2.86%, 2.95%, 1.28%, 1.86% and 3.79%, respectively.
On the debt front, long term and short term debt funds ended higher; advance:decline ratio stood at 69:10 and 48:12. Among the equity diversified funds, the top gainers were JM Equity Fund (G) up 4.39%, UTI India Advantage Equity Fund (G) up 4.39% and Standard Chartered Premier Equity Fund (G) up 4.12%. Among the tax saving funds, the top gainers were Taurus Libra Tax Shield up 4.17%, Escorts Tax Plan (G) up 3.46% and the top loser was HDFC Tax Saver (G) up 3.15%.

Among the sector funds, the top gainers were JM Financial Services Sector Fund (G) up 3.85%, Birla Sun Life New Millennium (G) up 3.65% and Reliance Media & Entertainment Fund (G) up 3.65%. Among the balanced funds, the top gainers were Kotak Dynamic Asset Allocation (G) up 3.28%, Escorts Balanced Fund (G) up 2.91%, LIC MF Balanced Fund - C (G) up 2.23%.