MF NAVs Witness Negative Returns As Mkts Crumble Sharply

Equity diversified NAVs plummeted as the markets slipped sharply on the back of selling presure and ended the week in deep red. The Sensex lost 273.42 points or 2.08% at 12886.13, and the Nifty down 84.45 points or 2.22% at 3726.75.
Equity diversified funds advance:decline ratio was at 4:16, balanced funds at 1:33 and tax saving funds at 0:29.All sectoral funds declined sharply. The BSE Auto, Bankex, FMCG, Healthcare and IT indices ended down 1.07%, 2.08%, 1.68%, 0.92% and 2.31%, respectively. JM Financial Services Sector Fund (G), Franklin Infotech Fund (G) and UTI Software Fund (G) were the top losers.Long term debt funds also heavily impacted as only 19 funds advanced while 56 funds declined. However, short term debt funds ended with positive returns despite declined of 17 funds while 40 funds advanced.

Among the equity diversified funds, the top gainers were Taurus Star Share up 0.56%, SBI Arbitrage Opportunities Fund (G) up 0.25% and Standard Chartered Arbitrage Fund - Plan A (G) up 0.21%. The top losers were UTI Master Plus 91 (G) down 2.60%, DWS Alpha Equity Fund (G) down 2.59% and UTI Index Select Equity Fund (G) down 2.59%.

Among the tax saving funds, the top loser was LIC MF Tax Plan (G) down 2.08%, DWS Tax Saving Fund (G) down 2.03% and HDFC Tax Saver (G) down 2.00%.Among the sector funds, the only gainer was Reliance Pharma Fund (G) up 0.61%, up % and up %. The top losers were JM Financial Services Sector Fund (G) down 2.73%, Franklin Infotech Fund (G) down 2.61% and UTI Software Fund (G) down 2.45%.Among the balanced funds, only gainer was BOB Children Fund - Gift Plan up 0.01%. The top losers were Kotak Dynamic Asset Allocation (G) down 3.59%, LIC MF Unit Linked Insurance Scheme down 1.86% and Pru ICICI Balanced Fund (G) down 1.66%.