MF NAVs Advance Sharply As Markets Close Higher

Equity diversified NAVs recovered earlier losses and ended higher with advance:decline ratio of 160:8 as the markets closed on an impressive note outperforming most of its Asian peers. The Sensex ended up 120.34 points or 0.85% at 14338.45, and the Nifty was up 43.25 points or 1.03% at 4248.15.
Balanced and tax saving funds also finished with positive returns, advance:decline ratio of 36:1 and 34, respectively. Birla Sun Life Tax Relief 96, Reliance Tax Saver (ELSS) Fund (G) and ABN AMRO Tax Advantage Plan (ELSS) (G) have gained.On the sectoral front, auto, FMCG, pharma and technology funds advanced whereas banking funds closed mixed. The BSE Health Care, Auto, FMCG and IT indices were up 0.20%, 0.38%, 0.53% and 2.49%, respectively. The BSE Bankex was down 0.16%. Technology funds were the outperformer yesterday; Franklin Infotech Fund (G), ICICI Pru Technology Fund (G) and DSP-ML Technology.Com (G) were the gainers.

Among the equity diversified funds, the top gainers were Sahara Midcap Fund (G) up 1.88%, ABN Amro Future Leaders Fund (G) up 1.57% and Principal PNB Long Term Equity Fund - 3 Year Plan - Series 1 (G) up 1.49%. The top losers were JM HI FI Fund (G) down 0.20%, Tata Select Equity Fund (G) down 0.18% and Standard Chartered Arbitrage Fund - Plan A (G) down 0.13%.

Among the tax saving funds, the top gainers were Birla Sun Life Tax Relief 96 up 2.09%, Reliance Tax Saver (ELSS) Fund (G) up 1.32% and ABN AMRO Tax Advantage Plan (ELSS) (G) up 1.16%.

Among the sector funds, the top gainers were Franklin Infotech Fund (G) up 2.30%, ICICI Pru Technology Fund (G) up 1.56% and DSP-ML Technology.Com (G) up 1.52%. The top losers were UTI Banking Sector Fund (G) down 0.27%, UTI Petro Fund (G) down 0.14% and JM Financial Services Sector Fund (G) down 0.09%.

Among the balanced funds, the top gainers were Birla Sun Life 95 Fund (G) up 1.91%, Kotak Dynamic Asset Allocation (G) up 1.66% and LIC MF Unit Linked Insurance Scheme up 0.94%. The only loser was Birla Balance (G) down 0.07%.