Weak Session For MF NAVs As Markets End In Red

It was a weak session for equity diversified NAVs yesterday with negative advance:decline ratio of 14:158 as the markets ended in red with moderate losses on the back of weak cues from Asia and Europe. The Sensex was down 35.85 points or 0.24% at 15009.88, and the Nifty down 13.35 points or 0.30% at 4406.05.
On the sectoral front, banking, FMCG and pharma funds declined while auto and technology funds advanced. The BSE Bankex and FMCG indices were down 0.92% and 0.29%, respectively. The BSE Auto and IT indices gained by 1.16% and 0.81%, respectively. Long term debt funds also finished with negative returns; advance:decline ratio stood at 27:43.

Among the equity diversified funds, the top gainers were JM Emerging Leaders Fund (G) up 0.62%, ING A.T.M. Fund (G) up 0.33% and ING Dividend Yield Fund (G) up 0.31%. The top losers were ABN AMRO Sustainable Development Fund (G) down 1.43%, ICICI Pru Emerging S.T.A.R. Fund (G) down 0.99% and Sundaram BNP Paribas Capex Opportunities Fund (G) down 0.92%.

Among the tax saving funds, the top gainers were JM Equity Tax Saver Fund - Series I (G) up 0.42%, ICICI Pru Tax Plan (G) up 0.38% and ING Tax Saving Fund (G) up 0.07%. The top losers were Lotus India Tax Plan (G) down 1.34%, Principal Personal Tax Saver Fund down 1.03% and Birla Tax Plan 98 down 0.80%.

Among the sector funds, the top gainers were UTI Auto Sector Fund (G) up 0.98%, Reliance Pharma Fund (G) up 0.75% and Franklin Infotech Fund (G) up 0.70%. The top losers were DSP-ML India T.I.G.E.R. Fund - Institutional Plan (G) down 0.91%, JM Financial Services Sector Fund (G) down 0.89% and UTI Infrastructure Fund (G) down 0.88%.

Among the balanced funds, the top gainers were JM Balanced Fund (G) up 0.57% and Kotak Balance up 0.03%. The top losers were BOB Balance Fund (G) down 0.80%, HDFC Childrens Gift Fund - Investment Plan down 0.67% and Principal Child Benefit Fund - Future Guard Plan down 0.51%.